Philippines Maintains Its 7th Rank As The Most Promising Country Over The Mid-term For Japanese Companies
The Philippines maintains its rank as Top 7 in terms of being a promising prospect for business operations over the mid-term (next 3 years) in a survey conducted by the Japan Bank for International Cooperation (JBIC) among Japanese companies in 2021.
According to the survey, the investors chose the Philippines as the “base of export to Japan”, and received the most votes on “good performance of sales in the ASEAN region.”
The Top 10 Countries for Mid-Term Prospects in the JBIC Survey for 2021 were: China, India, Vietnam, Thailand, US, Indonesia, Philippines, Malaysia, Mexico, and Myanmar.
In terms of major industries for overseas business in the mid-term, the Philippines was placed at Top 7 for electrical equipment and electronics, Top 8 for automobiles, and Top 8 for general machinery.
The Philippines has been Top 7 overall since 2019.
For long-term prospects (next 10 years), the Philippines remains in the Top 9. The Top 10 Countries cited were: India, China, Vietnam, the US, Indonesia, Thailand, Mexico, Myanmar, Philippines, and Brazil.
515 companies participated in the JBIC survey for the period of July – October 2021. The said survey aims to grasp the current situation, challenges, and outlook for overseas business development by Japanese manufacturing companies with a track record in overseas business operations.
