Gorriceta Africa Cauton & Saavedra
4 Experts
1 Contributions by Gorriceta Africa Cauton & Saavedra Experts
PRACTICE NOTES
Updated in January 2026
Introduction
The Philippines has continued to deliver solid, resilient economic outcomes, keeping its place among Southeast Asia’s faster-growing economies. From 2010 to 2019, average annual GDP growth was around 6.4%, a clear step up from the 4.5% average recorded between 2000 and 2009. Despite global headwinds from the coronavirus (COVID-19) pandemic in 2020, the country showed durability; GDP growth recovered to 5.6% in 2023, the fastest in Southeast Asia. Credit assessments remain positive too: as of June 2024, Fitch Ratings affirmed the Long-Term Foreign-Currency Issuer Default Rating at ‘BBB’ with a stable outlook, indicating robust medium-term growth prospects.
This guide highlights key matters a new business will need to understand and address before starting operations in the Philippines. It is not exhaustive, and specific Philippine legal advice should always be obtained prior to setting up and running a business in the
Commercial
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