{"id":32742,"date":"2023-03-14T07:00:29","date_gmt":"2023-03-14T00:00:29","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=32742"},"modified":"2023-03-16T07:09:39","modified_gmt":"2023-03-16T00:09:39","slug":"the-philippines-shows-promise-as-aseans-retail-hub","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/the-philippines-shows-promise-as-aseans-retail-hub\/","title":{"rendered":"The Philippines shows promise as ASEAN\u2019s retail hub"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The nation\u2019s economic advancement opens the door to more trade agreements for ASEAN<\/span><\/p>\n<figure id=\"attachment_32743\" aria-describedby=\"caption-attachment-32743\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"wp-image-32743 size-full\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/03\/shutterstock_1932948671.jpg\" alt=\"\" width=\"1000\" height=\"668\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/03\/shutterstock_1932948671.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/03\/shutterstock_1932948671-400x267.jpg 400w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/03\/shutterstock_1932948671-600x401.jpg 600w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/03\/shutterstock_1932948671-768x513.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-32743\" class=\"wp-caption-text\">The Philippines is expected to put more focus towards economic legislations. RichieChan\/Shutterstock<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The Philippines has been seeing a boost in its economy now that pandemic regulations are lightening up. According to <\/span><a href=\"https:\/\/www.philstar.com\/headlines\/2023\/02\/25\/2247425\/after-joining-rcep-philippines-now-open-business\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">The Philippine Star<\/span><\/a><span style=\"font-weight: 400;\">, the growth of businesses within the nation is predicted to accelerate, especially businesses involving retail. Among the biggest factors behind this acceleration is the nation\u2019s joining of the world\u2019s largest free trade group Regional Comprehensive Economic Partnership (RCEP).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">By becoming a member of RCEP, the Philippines is expected to put more focus towards economic legislations, such as the Public Services Act, Retail Trade Liberalisation Act, Foreign Investments Act, the Corporate Recovery and Tax Incentives of Enterprises Act, and several with the same nature would be fully utilised.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition to this, the <\/span><a href=\"https:\/\/neda.gov.ph\/rcep-strengthens-ph-position-as-asean-investment-hub-neda\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">National Economic and Development Authority<\/span><\/a><span style=\"font-weight: 400;\"> (NEDA) reported that the government is anticipating a positive outcome on the mega-trade deal, adding that this membership would reap valuable benefits, especially with solidifying trade agreements covering goods, services, investments, economical and technical cooperation, as well as dispute settlement with the countries part of RCEP.<\/span><\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/en\/the-philippines-calm-after-the-electoral-storm\/\" target=\"_blank\" rel=\"noopener\"><strong>More: The Philippines, calm after the electoral storm<\/strong><\/a><\/p>\n<p><span style=\"font-weight: 400;\">The Philippines is said to have an advantage by serving as the stepping stone to involve the ASEAN region in the trade agreements and by having a growing workforce with a stable legal regime and plenty of potential. This makes the nation ideal for manufacturing, research, and development for both RCEP and non-RCEP countries. This also allows for expansion of investment and potential for better and higher quality work opportunities, which puts the country in line with the Philippine Development Plan 2023-2028.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Different Philippines-based businesses have been anticipating the nation\u2019s joining of RCEP, revealed the <\/span><a href=\"https:\/\/www.pna.gov.ph\/articles\/1195845\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Philippine News Agency<\/span><\/a><span style=\"font-weight: 400;\">. This partnership is forecasted to provide the business community with an enabling environment that helps them expand their businesses. Investors have also been looking forward to what the country has to bring forth as a production hub, so they have set their sights on the nation for the right opportunity to invest.<\/span><\/p>\n<p><em>The Property Report editors wrote this article. For more information, email:\u00a0<a href=\"mailto:propertyreport@propertyguru.com\" target=\"_blank\" rel=\"noreferrer noopener\">propertyreport@propertyguru.com<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The nation\u2019s economic advancement opens the door to more trade agreements for ASEAN<\/p>\n","protected":false},"author":12,"featured_media":32743,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[123,129,248,3370,2238],"class_list":["post-32742","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-asean","tag-philippines","tag-retail","tag-retail-industry","tag-trade","news_country-philippines","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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