Skip to main content

Spire and YCG hold seminar on business opportunities in Philippines



On 19 February, Spire and Yamada Consulting Group (YCG) jointly organized a breakfast seminar in Singapore, to share insights on “Changes in the Singapore Economy and opportunities in ASEAN”. The speakers were Leon Perera, Chief Executive Officer of Spire Research and Consulting, Eleanor L. Roque, Tax Advisory & Compliance of Grant Thornton and Japnit Singh, Deputy Chief Executive Officer of Spire Research and Consulting.

The speakers discussed the opportunities available for Singapore-based companies in the region, specifically in the Philippines, in light of the recently released Singapore Budget.

2018 ended on a strong note for the Philippines, with Q4 2018’s average Purchasing Manager’s Index posting the strongest quarterly result of the year.

By 2020, only 5 per cent of the Philippines labor force would be over 65 years of age, making the Philippines’ population one of the youngest in Asia. With a 96 per cent literacy rate, the vast bulk of the population has a high level of English proficiency.

With the implementation of the Comprehensive Tax Reform Program (CTRP), Corporate Income Tax would be gradually reduced from 30 per cent to 25 per cent. In 2020, the digital population is expected to reach over 100 million and the electronics industry is expected to be worth USD250 million.

In the next 5 years, USD158 billion is expected to be invested as part of the “Build, Build, Build” program and the Philippines’ effort to modernize infrastructure via 75 flagship programs.

Tourism is a key industry, contributing 10 per cent to the Philippines’ GDP while supporting 9 million jobs. The Philippines is planning to liberalize its visa policies to attract more tourists.

The Philippines is also implementing tax reform. A branch of a foreign owned company is taxable only on the income sourced in the Philippines. The proposed tax reform would reduce the corporate income tax from 30 per cent to 25 percent.

For the 7th year in a row, the Philippines’ economy has persistently grown more than 6 per cent a year. With the implementation of correct strategies, investment in the Philippines could well be profitable for Singapore-based companies.


Read more : https://www.spireresearch.com/newsroom/events/spire-and-ycg-hold-seminar-on-business-opportunities-in-philippines/


Comments

Popular posts from this blog

FIFA World Cup 2018 holds lessons for successful team building

The FIFA World Cup 2018 is widely seen as one of the best World Cups in recent memory, with many surprises and goals aplenty. One talking point was the role of teamwork as opposed to just superstar talent. What lessons can businesses learn from the beautiful game? Leon Perera, CEO of Spire Research and Consulting, shared his thoughts in The Business Times – Views from the Top section on 23 July 2018. As World Cup fever draws to an end, the game lived up to its hype with breath-taking goals and outstanding performances. Perera highlighted the role of 'team effort' over mere individual talent, which was evident in the early failure of teams with world-class superstars like Argentina and Portugal. Perera also pointed out the importance of investing in new talent pipeline development, which paid rich dividends for France, the winning team and also one of the youngest teams in the World Cup. The game also highlighted the role of risk-taking. A relentless approach t...

Can India sustain its dependence on oil?

By 2035, India’s oil consumption will double from 7 Billion Barrels per day. Other nations are shifting towards alternative energy sources. India will contribute a third of the global growth in oil consumption in the next 15 years, and is set to replace China as the largest driver of oil demand growth. The country is becoming one of the largest oil consumers and is also home to some of the most polluted cities. Can disruptive renewable technologies break India’s dependence on oil? Read more :  https://www.spireresearch.com/newsroom/spirethoughts/can-india-sustain-its-dependence-on-oil/

Spire talks about key trends in Asia’s Franchise Industry

Spire was honored to participate at the 26th International Franchise and Exhibition , Malaysia, 2019. The event was held on 6th April in Kuala Lumpur. Jeffrey Bahar, Deputy Chief Executive Officer of the Spire Research and Consulting group, shared insights on key trends in franchise industries in the Asia. Bahar discussed key trends in three sectors suitable for franchising, namely pre-school education, facilities management and laundry services. Global cleaning services are expected to reach USD74 billion at 6 per cent CAGR (compound annual growth rate), accounting for 5 per cent of the global facilities management market by 2022. With urbanization, construction and smart cities as some of the growth drivers and by using robotics, IoT(Internet of things) and analytics, cleaning services would see improved performance. In 2015, USD260 billion was spent on private education in the Asia- Pacific, with Singapore being the highest spender in the region at USD700 million. A...

Deploying Industry 4.0 technology to mitigate climate change

A report highlights that by 2050, Arctic temperatures are expected to rise by 3 to 5°C, leading to a rise in sea levels and threatening the homes of four million people. Solutions using Artificial Intelligence could incorporate data from smart meters and Internet of things (IOT) sensors to predict a city’s energy demand so as to help optimize energy production. Carbon emissions could be significantly reduced through the use of 3D printing and raw material water reduction. How can advanced technology like AI, IoT and 3D printing help tackle climate change? Read more :  https://www.spireresearch.com/newsroom/spirethoughts/deploying-industry-4-0-technology-to-mitigate-climate-change/

Spire shares business advice to start-ups on Indonesian market entry

On 17 July, Spire participated as a market advisor at the National University of Singapore (NUS) Market Validation Program in Jakarta, Indonesia. Jeffrey Bahar, Deputy Chief Executive Officer, Spire Research and Consulting Group held sessions with Singaporean companies planning to expand their business into Indonesia. Jeffrey pointed out the utility of high-tech approaches for start-ups entering Indonesia, such as online advertising, usage of the Internet of things (IoT), data analytics and even Artificial Intelligence (AI). These approaches enable starts-ups to bypass mature importer-principal relationships that may be hard to overcome through conventional means. He also shared with individual companies his thoughts on developing customized strategies for Indonesian market entry. Get more information :  https://www.spireresearch.com/newsroom/events/spire-shares-business-advice-to-start-ups-on-indonesian-market-entry/