More Reasons to Outsource to the Philippines

Let me give you a few more reasons why it’s a good idea to outsource to the Philippines.

The Philippines is quickly becoming the preferred haven for foreign investments in the Asia-Pacific region according to the Philippine Economic Zone Authority or PEZA. This government corporation was established through thelegislative enactment known as “The Special Economic Zone Act of 1995”. It is an investment promotion agency that is attached to the Department of Trade & Industry (DTI). It’s main job is to offer ready-to-occupy locations, environment friendly Economic Zones and I.T. Parks/Buildings to foreign investors.

Many foreign investors like the conducive investment climate in the country. The country’s economic and financial reform programs becoming more competitive in the international market. The excessive government regulations are now a thing of the past and all sectors of its economy has become liberal. The Philippine telecommunications, shipping, oil, banking, and insurance industries have also been deregulated.

The Philippines is also a strategic location because it provides a natural gateway to other Asia-Pacific economies. The country’s shared history, cultures, and tradition with its Asian neighbors has also allowed trade links to flourish. Business in the Philippines is now liberalized, promotional and less regulatory, and attuned for global competition. The full (100%) foreign ownership of enterprises, facilitative assistance and simplified investment procedures are all to the advantages of foreign investors.

According to government estimates, the Philippines produces 380,000 graduates annually. When it comes to quality labor the country has abundant supply. It has a large pool of knowledge-based, multi-skilled, highly-educated, highly-trainable, literate, English-speaking workforce. Outsourcing services from the Philippines like AOV Outsourcing service make sure that their employees are the best of the crop. Foreign investors are also attracted to the low employment turnover (less than 1%), high productivity yields, and high adaptability to model changes of the Filipino workforce.

The Department of Labor and Employment (DOLE) of the Philippines revealed a few years ago that employers in non-agricultural establishments spent a total of PhP460 billion in labor cost. This figure represents a 46 percent increase over that incurred four years ago at PhP315 billion. At least one-third of total labor cost is still accounted for by manufacturing establishments. Typical annual salaries range from $5,000 to $12,000 for technical staff, while back-office salaries range from $3,500 to $7,500 per year.

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