The Philippines is home to numerous economic free zones; however, the 3 most important ones fall under the governance of the Philippines Economic Zone Authority (PEZA) which has recently started to reach out to various institutions with the purpose of creating new free zones and attracting foreign investors. Those who want to set up companies in the Philippines can rely on the services offered by our local consultants.
During the last several years, the Filipino government has begun working on some large infrastructure projects which were executed by public companies in cooperation with state authorities. Now, the government has reconsidered and decided to remain open to proposals coming from private companies, however these will be subject to a few requirements before being accepted to join the projects.
At the beginning of the year, the Philippines Central Bank (BSP) legalized the use of bitcoin by issuing the first regulations for cryptocurrency stock exchanges and now it is time for the authorities to continue the improvement of this industry which is why a fintech agreement with Singapore was recently signed.