Investing in the Philippines is starting to become popular again. Contributing to this includes the relative political stability given by the popular and incumbent Aquino Administration, fiscal stability, incentives supplied by the Public-Private Partnership (PPP) infrastructure initiatives (as applauded by the World Bank), etc. The country has also been expected by Citigroup to become one of the fastest rising economies over the next few decades. It certainly helps that there is lots of strength in the regional economy that is poised to be the center of gravity in the future. This without doubt will create greater need for office spaces in the Philippines. In particular, Makati office space is going to be highly sought-after because the city is the financial capital of the Philippines.
Hence, you probably want to move from Marina Bay to Philippines for it. Yes, there are fascinating Marina Bay Financial Centre at Marina Bay, but it’s wise to try your business in Makati as well.
There are several things a business stands to gain when they rent Makati office space. For starters, rent for all types of Philippine office space (even office space for rent in Makati) is still much lower there than for much of the world. The position of the city in the National Capital Region also makes it easier to reach government offices, embassies, along with other basic necessities. Additionally, the country is also strategically located in the middle of the fast-growing Asia-Pacific region. The Philippines also offers lots of mineral sources, along with a highly-skilled and lower-cost labor force well-versed in English when compared with their regional counterparts.
There are a lot of types of international businesses that could benefit from having a Makati office space for the reasons above apart from the much-trumpeted BPO industry. They consist of some of the following.
Trade and logistics
This particular business relies on location to be able to attain lower costs and improve overall performance of the business. Facilities and hubs placed in strategic, centrally located locations ensure it is less difficult for these companies to deliver more efficiently from place-to-place with less cost. While there are certainly kinks to iron out, primarily concerning the insufficient high-standard transport facilities, PPP incentives is going to be helpful in solving this, making the country much more valuable.
The country is mineral rich and possesses lots of unexploited resources still. Apart from gold, the country has nickel, copper, etc. With a position near growing Asian titans such as China and India, the Philippines is well placed to utilize on this dependence on metals along with other minerals. Big, international mining corporations would be well placed to get facilities and offices in the Philippines. It helps matters that international corporations have been recently permitted to own mines too.
The recently started PPP initiative by the Aquino administration is a potential goldmine for construction corporations aiming to strike big. With plenty of development and other infrastructure projects needing constructing, corporations have many options. Whether the job requires constructing new railroads, airports, roads, or ports, the opportunities are there. Even so, one should hurry and get in the game before the projects get snapped up.
The Philippines prospects have started to look up again, and the days of being regarded as “The Sick Man of Asia” are long gone. With the latest economic gains plus a new stable government in charge, its prospects are alot better, and need for office space for rent in Makati will rise. Anybody working in the abovementioned businesses intending to make investments in the country should pay attention to the above when looking for office space and think about the advantages of renting Makati office space.
Jule Mollet is a business consultant who has worked for both government agencies and international organizations operating in the Philippines and is privy regarding details on how to rent makati office space. For anybody who must know more about how to get the country’s best office spaces, read about makati office space.