Message from Consul General of the Philippines
This special report on the Philippines comes at a most opportune time, as the country exhibits steady economic growth. Tourism is one industry that promises strong growth, as visitors from all over the world look for new and exciting destinations. And the Philippines' varied and unique natural attractions offer experiences refreshing and memorable.
This special report on the Philippines comes at a most opportune time, as the country exhibits steady economic growth.
Tourism is one industry that promises strong growth, as visitors from all over the world look for new and exciting destinations. And the Philippines' varied and unique natural attractions offer experiences refreshing and memorable.
This year is "Visit the Philippines" year. To further boost tourist arrivals, the Philippines government is busy upgrading seaports, airports, expressways and public infrastructure to provide optimum comfort to travellers. We also encourage foreign investors to actively participate in efforts to build more facilities such as hotels, restaurants, gaming and entertainment facilities, either on their own or through public-private partnerships.
Another major contributor to the country's stable growth is the business process outsourcing (BPO) industry. Employing close to 1 million Filipinos, the BPO industry continues to grow more than 15 per cent annually and is expected to expand by double digits in the next five years.
Manufacturing is making a comeback. Investments in electronics have entered from Japan, Korea, Taiwan, mainland China and Hong Kong. A significant number of factories have been set up to manufacture computer printers, semiconductors, mobile phones and other electronics components.
The Philippines and Hong Kong enjoy strong economic ties. In 2013, Hong Kong ranked as the Philippines' seventh-biggest trading partner, fourth-largest export market and 13th-largest import supplier.
As of the third quarter of 2014, bilateral trade between the Philippines and Hong Kong amounted to US$5.198 billion, accounting for 5.48 per cent of the country's total external trade. Exports from the Philippines to Hong Kong amounted to US$4.04 billion, and imports US$1.16 billion.
The Filipino community, estimated at 190,000, comprises the largest non-Chinese ethnic community in Hong Kong. Local government authorities and private individuals alike have time and again acknowledged the Filipinos' invaluable contribution to the city's enhanced productivity and vibrant cultural life.
Undeniably, Filipinos in Hong Kong, like all overseas Filipino workers elsewhere, continue to contribute immeasurably to the Philippines' development.
I am optimistic that the Philippines will sustain its growth momentum to achieve our government's goal of inclusive progress and prosperity for all. Mabuhay!
Bernardita L. Catalla
Consul General of the Philippines
