Living in a highly Westernized, free market economy, Filipinos are open to new trends, styles and products, providing plenty of opportunities for Canadian exporters.
Evaluating the market in Philippines
We can help you get a better understanding of market activity, relationships and support to grow your business.
What this means:
Actively pursuing business
All EDC solutions are available in this market, subject to regular approval criteria
How does EDC determine the position?
EDC takes the following into account when determining the position in a given market:
Government of Canada restrictions
Political, human rights and corruption risks
Other factors that may be taken into consideration are: size of the economy, diversification of the economy, risk of natural disasters
Low to Medium Risk
What this means:
The Commercial Country Ceiling (CCC) Risk Rating is measured from low to high, and is meant to represent the best possible rating that can be assigned to a commercial business (obligor) in a country.
How does EDC determine the risk rating?
The CCC risk rating is impacted by the Sovereign Probability of Default (ability and willingness to honour financial obligations), political risks, and other mitigating or worsening factors.
Business environment in Philippines
With a population exceeding 100 million people, the Philippines is one of the largest markets in Southeast Asia. The country’s economic growth prospects remain positive following strong consumer demand. While the Philippines business environment has improved in recent years, poor infrastructure, bureaucracy and restrictions on foreign equity ownership in certain sectors present challenges for foreign investors. To navigate the complexities of the market, Canadian companies are advised to identify and collaborate with strong local partners, especially with the large local conglomerates that have a lion’s share of the country’s major infrastructure projects.