Best Chinese Investments in the Philippines
The Filipino-Chinese relationship in terms of business has always been a fruitful one. In terms of the economic growth of the Philippines, Chinese businesses have always played a fundamental role. Because of thousands of Chinese investments in the Philippines,the country has gained access to a multitude of products and services.
The rich history of Chinese investments in the Philippineshas established a deeply rooted connection between China and the Philippines in terms of business communications. The relationship between the Philippines and China aids in the growth of the Philippine economy by introducing the country to worldwide services. China, on the other hand, boosts and strengthens their economic expedition.
The Philippines is a country where foreign investments help flourish the economy. It provides dozens of benefits such as growing the Gross Domestic Productivity or GDP of the nation and providing opportunities for Filipinos. Filling the gap economic gap of the Philippines can be achieved with this economic aid from foreign investments. The majority of the country’s foreign business activity is led by Chinese entrepreneurs, businessmen, and investors. In fact, this business relationship had brought a number of infrastructural advances that helped the country become more competitive in the global market.
Reasons to Start a Business in the Philippines
Highly Educated Workforce
Filipinos are among Asia’s most educated labor force. The Philippine’s education standards make use of a blend of traditional and advancing technologies, this results in many Filipinos’ increased digital and computer literacy. The average Filipino has an amazing grasp of the virtual landscape.
Not only are Filipino’s highly literate in terms of the digital and computer landscape, English literacy is also where the Philippine’s excels in Asia. The high literacy rate of the Philippines stems from the country’s top universities producing more than half a million new graduates every year. The IQ of the average Filipino worker is outstandingly high, and many of them can handle loads of complicated tasks and manage stress well. If you’re looking for a Filipino business partner, your search for a highly skilled talent won’t be difficult as many Filipino managers, employees, entrepreneurs, and businessmen are well versed in their own respective fields of knowledge.
Best Performing Stock Markets in Asia
Chinese investors will be exhilarated to find out that the Philippines is on top of the Asian stock market as of 2019, with a YTD return of 7.8% in the first three weeks of the month of January. This will boost the confidence of investors and those planning to invest in the country.
The country has been in a constant arm-wrestle with inflation, oil prices, and the value of the Philippine Peso. But the country has surpassed the expectations of many economists; studies have shown that the economic value of the country will continue to steadily grow. This makes 2019 one of the best years to invest in the country.
Confident Consumers in the Nation
Filipinos are known to be one of the world’s most confident consumer of goods. Many hard-working Filipinos allocate their hard-earned money on numerous goods and services such as appliances, clothes, traveling, and investments. This is a good sign for businesses in the country.
Knowing that consumers are highly active in the country means that your business may find prominence in the Philippines. Even long-tailed businesses and niche product sellers may find active success in the Philippines. Many Filipinos will go leaps and bounds to find certain products that fit their taste.
Economic Growth Rate
The positive Gross Domestic Productivity of the Philippines is mainly driven by the country’s investments, fiscal spending, expanding agricultural industry, and strong domestic demand. ING economists predict that the Philippines’ growth rate won’t drop any time soon. Their research has led to the assumption that the Philippine economy will experience a 6.5% growth rate for the next 6 years.
The growth of the country is at a rapid pace and inflation is relatively low to moderate, making the Philippines one of the best countries to invest in the world and the best in Asia. The huge consumer base for technologically advanced devices and great designed products of the Philippines has led other foreign investors such as Dyson to expand its operations in the English literate Asian country.
Filipino Work Culture
The Philippines is one of the most diverse countries when it comes to their work culture. Many countries churn out a variety of professional standards, imposing a totally different culture of work in one country may lead to negative results. The professionalism of one country’s standards may not easily accept a foreign work culture approach.
In the Philippines, you’ll find that the country’s workforce can happily accept a diverse workforce style. That’s why so many foreign businessmen and company owners in the Philippines say that working with Filipinos is such a rewarding experience. Here’s why:
- Modesty and Pride
Filipino workers are one of the most modest in the world. In many Asian work cultures, including the Philippines, it is a big deal for employees and workers to protect their reputation and avoid confrontation as much as possible. Their concept of pride in the workplace is associated with avoiding embarrassment in public and in the office.
This may be why many Filipino workers are very emphatic and sensitive to the emotions of others. Filipino workers value work-life balance and highly incorporate it into their lives. Though you will encounter many Filipino workers who will stretch their work efforts to achieve and surpass success. Many Filipinos are known to be reserved and well composed, their image towards others is of high value to them.
When talking to Filipino workers, it’s important to approach Filipinos in a discreet and constructive manner when talking about sensitive matters in the workplace. It allows them to work on their weaknesses and improve on their strengths better without feeling embarrassed.
With the innate traits of being shy, many might think that Filipinos may be difficult to communicate with, but in fact, it’s the opposite. But when you get to know your Filipino colleagues, you’ll find out that Filipinos are among the friendliest people in the world. They are easy to interact with and are very sociable people. They’ll do what they can to befriend others and even go out of their way to make you feel comfortable and uplift your mood.
Social gatherings are a big thing for many Filipinos. They always love being a part of gatherings and activities that give them the chance to get to know their colleagues more. It’ll be always a fruitful bonding when engaging with Filipinos, as they will never fail to treat you like family. This leads us to one of the unique values that most Filipinos have; Family always comes first.
Small Business Investment Opportunities
Unlike in western cultures where children are encouraged to move out of their parents’ homes and brave a life of independence as soon as they land their first job, Filipino families find it absurd to suddenly subject their children to an instance of immediate independence. This is due to the innate value of all Filipinos to prioritize family over anything, this applies to both their personal and professional life. Even the Filipino language is engrained with the sense of familial respect. When talking to other unrelated individuals, Filipinos will refer to them as “Kuya” or “ate”, brother or sister, in English. It’s part of Filipino nature to call others, even strangers as brothers or sisters.
Now that we’ve talked about the work culture of a typical Filipino employee, let’s move on to the businesses that are currently booming and will expect to grow in the Philippines. If you’re planning to start business investments in the Philippines as a Chinese citizen, here are some of the most popular businesses that thrive in the Philippines.
- Real Estate Agents
The Philippines will never run out of people who are looking for properties to buy, this alone should be a reason to start learning about the real estate business. It isn’t difficult to look for seminars and courses that can help you learn everything about real estate. If you find any training courses about real estate, it’s best to take the opportunity to learn.
If you want to take things a step further, don’t be afraid to commit. The only way you can put your knowledge into practice is if you can get your hands on real work experience. Once you’ve accomplished an adequate amount of time with training and seminars, take the real estate broker license exam to qualify as an accredited real estate broker. From there, you can start your real estate business.
- Convenience Store
In the Philippines, Chinese investments in the form of a convenience store business is a lucrative one. People in the Philippines love buying snacks and other goodies at nearby convenience stores. On a daily basis, a well-placed convenience store’s sales can go as high as P20,000.
If you’re planning to put up your own convenience store, location is paramount. The success of your store’s profit can be determined by how well strategized your store location is. It’s not always best to put a convenience store at a busy place. There may be too much competition, if ever you do, your store has to stand out. This can be done by offering products that are unique. You could also put up a store at a location where people usually pass by or close to a residential area.
- Buy and Sell Business
Many Chinese investments in the Philippines involve the business of buying and selling. This is one of the best businesses I would recommend since the digital age we live in will make it easier for business owners to reach their customers. To many, this may seem like a secondary form of income, but there are actually a lot of businessmen and entrepreneurs whose main source of income is from buying and selling different kinds of products.
The most lucrative of these businesses are buying and selling properties, cars, and collectibles. Though many of the most successful buy and sell businesses involve providing products that aren’t available in the Philippines. The demand for foreign goods is high in the Philippines.
- Internet Café
The internet café business has always been stable and continuously growing. This type of business typically caters to students in the country. Much like putting up a convenience store business, planning where your internet café will be located is vital for its success.
Although the internet café business may require a hefty amount of capital, ensuring regular customers will guarantee business success. The internet café business can allow for many ways to earn money, apart from having computers rented out. You can capitalize on earnings from printing and internet access rentals. If your business flourishes even further, you can sell food to customers as well.
- Poultry Business
For the Chinese who want to invest in the Philippines and have a knack for taking care of animals, why not earn a living out of it? Making a business out of taking care of animals can give you the leverage on a poultry business. You can start this business in your backyard or if you own a large patch of land, you can begin there. This is one of the most tedious forms of business and it requires a very proactive business owner.
- Laundry Service
The laundry service in the country is becoming more popular than ever. With people becoming busier, most no longer have the luxury of time to do their own laundry at home. Many are choosing to go to laundry shops in order to get that chore done with. We see this as a booming business investment as the demand for nearby laundry shops continues to grow.
Chinese investments in the Philippines may want to capitalize on starting a laundry business. The country is filled with laundry detergent products that are cost-effective. All you need to invest in are a bunch of washing machines, a few people who can hand wash clothes properly, and a great location.
China Philippines United Enterprises Inc.: Growing Chinese Investments in the Philippines
If you’re a Chinese national who wants to know where to invest in the Philippines, we at China Philippines United can help you kick start your investments in the Philippines. Chinese investments are growing by the second. It’s best to start as early as possible. Click here to find out more about our services!