The Government is actively courting foreign investment, they have a board where you can go in and they will tell you what areas are open to foreign investment. They have smart people and are very helpful, and as long as you are not on the negative list you don’t need a local partner. Uber are fully foreign-owned because it is a service company.
The Philippines has 100 million people with an average age of 23. They are young, well-educated and like western things. There is a lot of money to be made in the Philippines in the right industry.
There are a range of trade networks with many foreign chambers of commerce trying to push ideas and make life easier for their investors with visa requirements, banking regulations and things like that. We would recommend a local partner because people come in and think they know everything because they have spoken to someone. In the Philippines, personal relationships count for a lot and in the business world gossip goes around.
