Motives   Unit 3 Ip
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My name is Carla J. McCoy and this Presentation will show you the Importance of Investing Mission Love Seeds in the Philippines.

My name is Carla J. McCoy and this Presentation will show you the Importance of Investing Mission Love Seeds in the Philippines.

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  • My name is Carla J. McCoy and this Presentation will show you the Importance of Investing Mission Love Seeds in the Philippines.
  • This is information on how you can contact our business, or if you are in a Crisis you can call the phone number listed above. We also take Donations if you are interested in Donating to our organization.
  • Mission Love Seeds Core Focus is based on the after affects of Hurricane Katrina. Mission Love Seeds focus is to help feed families, administer food supply, medical assistance, and Bible Study Programs in the Philippines. Various families would be provided food and care on a monthly basis. Mission Love Seeds is considering expanding to help families in Mississippi as well.
  • When investing in the Philippines there are many things to consider such as getting the proper Licenses and Registration Certificates, where distribution will be, what the laws are in the Philippines and what actions would be allowed to take place as well as be restricted. The Philippines has a liberalized economy and with the government being investor-friendly would make the opportunities endless.
  • The information you see here is information and documents that are needed for registration with the SEC that any business owner will need to obtain before investing in the Philippines.
  • There are regular requirements needed for business entities which are listed above that any business owner would need to accomplish before investing in the Philippines.
  • There are several Government Agencies that will need to be called, and appointment times to set up the process of investing in the Philippines. Location will be an important factor when doing this. The registration process will begin with the Securities and Exchange Commission (SEC). If it qualifies then an application can be filled out depending on the location.
  • Mission Love Seeds lends a helping hand when in need. Mission Love Seeds is a realtopic. The large populations of Indigenous students that do studies on projects like this is not just a concern, it involves real life projects provided with good helping hands, love, and care.
  • When it comes to the Philippine Economy, remember they are growing faster in the last 25 years with real GDP growth and the relations they have with their neighbors has become outstanding. Investment Approvals have even gone up in the last 25 years. Just look at the chart about Remittances from Philippine citizens that are working abroad and you can clearly see they are increasing as well.
  • The Philippine economy is the fastest growing economy in Southeast Asia. The Philippines inflation rate which is (consumer prices) was at 2.8% in 2007. The producer prices remain contained.
  • The Philippine Central Banks Interest rates raised while the GDP growth accelerated to 5.6% for it’s second quarter. The Philippines have an $118 billion economy that expanded within the first three months.
  • The Philippines 300,000 square kilometers is about the size of the state of Arizona in the U.S. and it’s major cities are Manila, Davao City, and Cebu City. The majority of the Philippine people are descendants of Indonesians and Malays but the largest ethnic minority is the mainland Asians (called Chinese) who play an important role in commerce. Efforts in recent years to reduce the public sector deficit and raise new taxes have helped reduce high debt ratios, create additional fiscal space to increase spending on vital social services and infrastructure after years of tight budgets, and improve confidence.
  • In FY 2007, the U.S. Government--working closely with the Philippine Government, civil society, the private sector, and other donors--provided $145 million in grant funds to support a more peaceful and prosperous Philippines. About 60% of economic assistance resources are targeted for Mindanao, for programs that promote economic growth, mitigate conflict, and promote peace and security. The U.S. supports programs that promote good governance at the national and local levels, improve electoral systems, promote rule of law, help address constraints to trade and investment, improve revenue collection/administration and fiscal transparency, and enhance the ability of military and civilian law enforcement agencies to maintain peace and security. Many programs across other sectors--including health, education, agricultural productivity, micro-enterprise development, and natural resource management-also support improved governance, human capital development, poverty alleviation, and/or sustainable growth. Health-related assistance programs include reproductive health, maternal and child care, tuberculosis and HIV/AIDS control, and avian flu preparedness. The U.S. also provides humanitarian assistance to internally-displaced persons in conflict-affected areas and to victims of natural disasters (including $5 million in reconstruction assistance for the typhoon-battered Bicol region in FY 2007). In 2006, the Millennium Challenge Corporation (MCC) granted $21 million to the Philippines for a two-year Threshold Program targeted at addressing corruption in revenue administration and improving the capabilities of the Office of the Ombudsman. The success of this Threshold Program contributed to the MCC awarding the Philippines Compact eligibility status in March 2008. Nearly 400,000 Americans visit the Philippines each year. Providing government services to U.S. and other 'citizens, therefore, constitutes an important aspect of the bilateral relationship. Those services include veterans' affairs, social security, and consular operations. Benefits to Filipinos from the U.S. Department of Veterans Affairs and the Social Security Administration totaled $297,389,415 in 2006. Many people-to-people programs exist between the U.S. and the Philippines, including Fulbright, International Visitors, and Aquino Fellowship exchange programs, as well as the U.S. Peace Corps.
  • With Broad Based Growth occurring in the Philippines, it would be a good time to Invest in the Philippines. A foreign investor is offered a lot of incentives when investing in the Philippines. Incentives include tax holidays, tax reduction for labor and expenses, and duty-free importation of capital equipment, and are available for companies investing in preferred areas and registered with the (BOI) Board of Investments.
  • The Philippines competes with China but are in the process of changing international demand which is increasing net exports in a majority of sectors where it competes with China. The Philippines are not a strong exporter of the labour intensive products economies which could also create a decline in competitive challenge with China. The strengths complementing one another between the Philippines and its surrounding neighbors is highly complementary.
  • As you can see here the strengths between the Philippines and its neighbors (the U.S.) for example, are improved and broadened and complementary as well. These are some good facts between the Philippine and U.S. relations.
  • Restrictions on foreign participation have been mentioned in three negative lists. These lists are administered by the National Economic and Development Authority (NEDA). The division into domestic and export enterprises is relevant when talking about investment incentives. The basic idea is not to offer incentives to companies that would use the benefit to compete in the Philippine market with local companies. A domestic market enterprise produces goods or services solely for the domestic market. Domestic market enterprises with more than 40% foreign participation should have a paid-up capital of at least USD 500 000, if advanced technology is not used. An export enterprise is a manufacturing, processing or service enterprise exporting at least 60% of its output. Also, a trader buying domestically manufactured products and exporting at least 60% of the purchase is regarded as an export enterprise. If the investment is made in a Special Economic Zone (earlier Export Processing Zone), there are no restrictions on foreign participation. However, these companies are required to export the whole production, unless the company has received specific approval from the Philippine Economic Zone Authority (PEZA). This approval is always made in a specific situation and may not be issued beforehand. Once the approval is gained, the domestic sales cannot exceed 30% of the production. 
  • This restricts foreign investment for reasons of security, defense, health, morals and protection of small and medium-sized enterprises.
  • The Philippines suffer from endemic conflicts. Political instability, intra-community conflicts over natural resources continue to undermine efforts to improve the country’s economy and governance. Conflicts in Mindanao are a problem. Investing in a developing foreign country is always a challenge. The various languages, traditions, pace of life and even the weather can work against you sometimes. The Filipino’s being a welcoming culture makes these adjustments easier to deal with. In the Philippines Management issues are often interchangeable with crisis management. Investment managers face mounting competition from foreign rivals and new entrants also.
  • These are final thoughts after doing research on the Philippine Economy, it’s neighbors, it’s strengths complementing one another and if there is competition, and of course management issues one may have. Biological needs such as the need for basic things such as food, water, and oxygen are highly needed over in various parts of the Philippines and Mission Love Seeds wants to help this country out by investing a business over in the Philippines.
  • Mission Love Seeds wants to improve health outcomes in the Philippines. Mission Love Seeds is an ongoing program managed by Carla J. McCoy. Our program works to simultaneously build local capacity for coastal resource management and improve reproductive health outcomes through expanding family planning services and focusing on the prevention of waterborne disease. As you can see in the video above, there is a good core example of what Mission Love Seeds actually does for the Philippines.
  • These are all the Citations I’ve used for this Presentation
  • These are all the Citations I’ve used for this Presentation
  • These are all the References I’ve used for this Presentation
  • These are all the References I’ve used for this Presentation

Motives   Unit 3 Ip Motives Unit 3 Ip Presentation Transcript

  • Mission Love Seeds
    There has never been a better time to Invest in the Philippines
    Our Mission Statement
    Mission Love Seeds, Inc., was created to feed and clothe the hungry and poor through out the world, to demonstrate God’s love, and open doors to tell children and their families about the great gift, Jesus Christ.
  • Contact Us
    Mission Love Seeds
    55 Country Club Drive East
    Destin, FL
    32541
    USA
    Toll Free: (850) 650-5583
    Fax Number: (850) 650-3523
    If you are in crisis, please call :
    1-800-273-8255 (TALK) or call 911
    Email Us:
    http://www.missionloveseeds.org/
  • Core Focus
    • There is a high risk of food or waterborne diseases: bacterial diarrhea, hepatitis A, and typhoid fever vectorborne diseases: dengue fever and malaria (2008)
    • The Philippines have a Population that is 30% below the poverty line. (est. 2003)
    • There has been an increase of domestic methamphetamine production despite government crackdowns; major consumers of amphetamines and longstanding marijuana producers mainly reside in rural areas where Manila’s control is limited. (Asian Human Rights commission, (2005).
  • Investing in the Philippines
    There has never been a better time to invest in the Philippines. The economy has liberalized and the government is investor-friendly. Endless opportunities abound in infrastructure, environment, social services, telecommunications, energy and manufacturing. (Development Bank of the Philippines, 2008)
    Makati City is Manila’s financial center, and the country’s commercial heart.
  • Registration Procedures
    Registration Process
    A copy of the articles of incorporation and bylaws
    The corporate treasurer’s affidavit of actual deposit of paid up-capital
    The incorporators’ statements of assets and liabilities
    A bank certificate of deposit on paid subscriptions
    Authorization by the corporate treasurer for the SEC to verify the corporation’s bank accounts
    A written undertaking to change the corporate name if this similar to or resembles the name of an existing corporation
    The taxpayer identification numbers of the incorporators
    An undertaking to comply with the SEC report requirements
    Personal information on directors, officers and stockholders
    Besides the regular requirements mentioned above, there are business entities to register with.
  • Business Entities
    Bureau of Trade Regulations and Consumer Protection (BTRCP): registration of business name/single proprietorships
    Central Bank of the Philippines (Bangko Sentral ngPilipinas): registration of foreign investments for purpose of capital, repatriation and profit remittances.
    Bureau of Internal Revenue (BIR) – securing tax identification number
    Metro Manila Authority (MMA): - securing vocational clearance/business permit for firms located in Metro Manila
    City Halls/Municipal Offices in the localities where the business will be set up: - securing building permit and license to do business
    Social Security System (SSS): - Securing employers SSS-number
    Medicare: - Securing membership in the government health care benefits system
    Manila Electric Co. (MERALCO) or local electric utility firms: Securing electric services connection
    Metropolitan Waterworks and Sewerage System or local water utilities administration: - Securing water services.
  • Licenses, & Registration Certificates
    Before investing and engaging in business in the Philippines, the necessary licenses or registration certificates from the appropriate government agencies needs to be obtained. The registration process starts with the Securities and Exchange Commission (SEC) If the proposed project or activity qualifies for incentives, the foreign investor may file it’s application with the appropriate government agency depending on the project’s location, as follows: (PricewaterhouseCoopers, (2004)
  • About Mission Love Seeds
    Mission Love Seeds was formed in December of 2004 to help feed families in the Philippines. Our staff helps administer the food supply going to families, medical assistance, and a Bible study program. Families are provided food and care on a monthly basis. After Hurricane Katrina we felt the need to help at home as well. We continue our work in the Philippines but have expanded to helping families in Mississippi. Our bas and mission is ever expanding and we encourage people to not only volunteer contributions but also time. (Mission Love Seeds, Inc. 2008)
    Our work is currently carried out in the villages of Admiral, Sitio Pantay, Binayuyo and Dumpsite located near Antipolo City. Each village is unique among itself but still need the basics for life. For most just getting water is a daily chore. (Mission Love Seeds, Inc. 2008)
  • Philippine Economy
    The Philippines have a mixed economy market that is now growing faster than it has in the last 25 years with real GDP growth exceeding 7% in 2007. Philippine economic growth eased to a three year low of 4.6% in the second quarter and consumer spending waned. Inflation accelerated up to 12.6% in August, 2008 from 12.2% in July of 2008. Bangko Sentral raised inflation for 2008 between the percentages of 9% to 11%. The government has lowered its 2008 growth target to between 5.5% and 6.4% which would end up being a huge slowdown from 7.2% in the year 2007. Consumer spending growth slowed to 3.4% and Government spending fell 5.1%. Exports make up about two-fifths of the economy which added 7.7% for 2008 and services climbed 4.3%. Philippine stocks and the peso fell with concern that the government may expand subsidies for the third of the 96 million population that lives on less than $1 a day which widens the fiscal deficit. (Hugh, E., 2008)
    Remittances from Philippine citizens working abroad also amounted to 13% of GDP in 2006 according to World Bank estimates. (Hugh, E., 2008)
  • Philippine Economy
    The Philippine annual inflation rate accelerated in July, 2008 hitting a near 17-year high of 12.2%. June inflation was 11.4% while inflation in July 2007 was only 2.6%. (National Statistics Office, 2008). The July figure was the highest since December 1991. (Hugh, E., 2008)
    Philippine producer prices remain contained, hitting only 3.3% in June, 2008. (Hugh, E., 2008)
  • Philippine Economy
    The Philippine Central Bank raised Interest Rates and forecast inflation will exceed last month’s 14-year high on record oil and food prices. It went from 0.5% to 5.75%. (Hugh, E., 2008)
    GDP growth accelerated to 5.6% in the second quarter. The $118 billion economy expanded 5.2% in the first three months, the slowest in more than a year. (Hugh, E., 2008)
  • Philippine Economy
    The total land area of the country is approximately 300,000 square kilometers, about the size of Italy or the state of Arizona in the United States. The Philippines compared to it’s Asian neighbors will more than likely suffer a hard-hit in the upcoming months due to a wide range of sectors weakening U.S. economy. 2008 is going to be a “hard year” for Filipinos and the U.S. with the archipelagic country’s #1 export market, is already facing a growth slowdown. Depending on how the U.S. stirs it’s economy most probably the Philippines will go through hard times for the rest of 2008. The Philippines have managed to reduce their dependence on the U.S. as the destination of most of its products from 30% down to 17% in recent years.
    The Filipinos export to alternative markets such as China, Japan, and India which are also closely interwoven with the U.S. market. About 50% of total remittances to the Philippines come from the United States and Canada and as the economies of other major host countries slow down, the remittances to the Philippines will also be affected and the Philippines will take longer to recover. The Philippines compared to their Asian neighbors will take longer to recover a situation like this because they have a consumption led economy which is dependent on whether there will be more job-generating investments. (Xinhua News Agency, 2008)
  • Philippines Relations
    The Philippines have good relations with its Asian Neighbors. In August 1967 the Association of Southeast Asian Nations was formed by Indonesia, Malaysia, the Philippines, Singapore, and Thailand to pursue economic, social, cultural, and technical cooperation. The Philippines has had very few disputes with Indonesia or Singapore, and relations remained neighborly in the early 1990’s. The Philippines also have a cooperative relationship with Thailand. Philippine relations with Malaysia was bedeviled with a small lingering dispute over the status of Sabah which is the northeast corner of Borneo until Prime Minister Mahathir bin Mohammad arrived for ASEAN summit. There is little diplomatic or cultural intercourse between the Philippines and Vietnam. The Philippines joined various ASEAN states which would oppose Vietnam’s occupation of Cambodia. (Country Studies, 2008)
    Philippine-Japanese relations are smooth and successful despite memories of the cruelty of the Japanese during their occupation of the Philippines in World War II. Philippine relations with China and Taiwan were cautious in the 1990’s. Manila’s relations with Beijing were hostile in the 1950’s and 1960’s. The Filipino – Chinese business community has many connections with relatives and partners in Taiwan, Diplomatic relations between Manila and Beijing were opened in 1973 and since then the relationship has been correct but not warm. China sought to conduct an “oil diplomacy” with the Philippines, a country that is completely dependent on imported oil. (Country Studies, 2008)
  • Broad Based Growth
    For all major Sectors of the Economy
  • Strengths Complementing One Another
    The Philippines appears to be adjusting successfully to changing international demand and Chinese competition, increasing its net exports in a majority of sectors where it competes with China. However, China may present a low and declining competitive challenge to the Philippines’ net exports in part because the Philippines is not a strong exporter of the labour intensive products economies at a similar level of development usually rely on. Nevertheless, the Philippines is highly complementary with China’s net import demand, particularly in electronic components, which should assist its future export growth. (Department of Foreign Affairs and Trade, Advancing the interests of Australia and Australians internationally. (2008)
    U.S. – Philippine relations are based on shared history and commitment to democratic principles, as well as on economic ties. The historical and cultural links between the Philippines and the U.S. remain strong. The Philippines modeled its governmental institutions on those of the U. S. and continues to share a commitment to democracy and human rights. At the most fundamental level of bilateral relations, human links continue to form a strong bridge between the two countries. There are an estimated four million Americans of Philippine ancestry in the united States, and more than 250,000 American citizens in the Philippines. Until November of 1992, pursuant to the 1947 Military Bases Agreement, the United States maintained and operated major facilities at Clark Air Base, Subic Bay Naval Complex, and several small subsidiary installations in the Philippines. In August 1991, negotiators from the two countries reached agreement on a draft treaty providing for use of Subic Bay Naval Base by U.S. forces for 10 years.
  • Strengths Complementing One Another
    U.S. – Philippine relations improved and broadened and maintained important security dimensions.
    U.S. investment plays an important role in the Philippine economy
    Philippine negotiators concluded a Visiting Forces Agreement (VFA) which increased military cooperation under the MDT.
    President Arroyo has repeatedly stressed close friendship between the Philippines and the U.S.
    Both governments seek to revitalize and strengthen their partnership in working towards a tighter security, prosperity, and service to Filipinos and Americans alike.
    President Arroyo gave strong support to the global war on terrorism.
    The U.S. designated the Philippines as a Major Non-NATO Ally.
    Philippines joined a select group of countries that ratified all 12 UN counterterrorism conventions.
  • Investment List A
    No foreign participation is allowed in: 40% foreign equity is allowed in:
    Mass Media resources development and utilization
    Most licensed professional services land ownership
    Cooperatives public utilities
    Private security agencies educational institutions
    Small-scale mining financing companies
    Fisheries construction
    Rice and corn farming
    25% foreign equity is allowed in:
    Recruitment agencies
    Locally funded public works projects
    30% foreign equity is allowed in:
    Advertising
  • Investment List B
    Explosives
    Munitions
    Armaments
    Dangerous drugs
    Massage clinics
    Gambling
    Domestic market enterprises with capital less than USD 500,000 provided enterprises don’t use advanced technology
    Small-scale export enterprises with capital les than USD 500,000.
  • Management Issues
    You must rent or lease buildings you work in because you are not allowed to own real property unless you are married to a Philippine citizen. Foreigners are allowed to lease or rent for up to 50 years with an option for another 25 though. There are no usury laws in the Philippines which can be hard to believe. There are security concerns in various parts of the country but they rarely influence a company’s decision to locate to the Philippines. If your business is in a more remote area of the Philippines you will need to take sensible precautions and be aware of the risks of terrorist activity. When investing in the Philippines you need to be aware that there are 115 companies in the Philippines offering insurance and you will be required to insure locally. Heavy penalties apply when Non-Admitted Insurance is obtained for the practice of taking insurance offshore to cover domestic risk.
    Insurance companies in the Philippines normally follow international practice but you will need to read the fine print when getting insurance and be sure you understand that there are various mixtures of languages such as Spanish, Islamic, and Anglo/American codes. Another issue is that no foreign participation is allowed in mass media, most licensed professional services (e.g. accountants, lawyers, engineers), retail trade, cooperatives, private security agencies, small scale mining, fisheries, or rice and corn farming.
    No business in the Philippines can be promoted and operated on a year by year contract, but may be promoted for a 5-10 year or more contract. Normally a lease includes nothing more than plain real estate and bare land. Investors have to pay all of the construction, electricity, and other amenities that need to be connected to properties. There are business taxes you would become subject to when Investing in a business in the Philippines as well. Some of these are Value added tax, Excise taxes, Local tax, Percentage tax, and other varying rates depending on what type of business you own in the Philippines.
  • Conclusion
    Mission Love Seeds is considering Investing in the Philippines for a few years now. After reviewing the economy statistics, There were 188 BOI- approved investments in 2006 and that raised to 215 investments in 2007 which is a pretty good increase of investments. This Presentation clearly shows the strengths of the Philippines and it’s surrounding neighbors. Each country complements one another and have had a strong relationship with one another for a very long time and have a shared history. The Philippines and the United States share values, democracy, freedom and we have been in all the wars together in modern history such as, The World War, Second World War, Cold War, Vietnam, Korea, and now the War on Terrorism.
    There are always management issues to consider before investing in a different country. After studying the marketplace and understanding the target market , there are segmentation variables to look at before investing in the Philippines such as Geographically , Demographically, Psycho graphically, and Psycho graphically. Mission Love Seeds will consider all of their options before investing in the Philippines. The most needed Physiological need in the Philippines would be the Biological needs such as the need for oxygen, food, water, and a relatively constant body temperature. (Pinto, J., 2008, Fundamentals of Marketing course, American InterContinental University) (Maslow’s Hierarchy of Needs, 2008)
  • Video from the Philippines
    5000 children die a day from unsafe water. Mission Love Seeds Installed water tanks in a Dumpsite village in the Philippines so villagers can have clean water. The Dumpsite is a small village on the side of a mountain outside Antipolo. Click the video below to see the progress it made.
  • Citations
    Central Intelligence Agency, The World Fact book, (2008)
    Retrieved from: https://www.cia.gov/library/publications/the-world-factbook/geos/rp.html
    PricewaterhouseCoopers, (2004)
    Retrieved from: http://www.philippine-embassy.de/bln/images/PTIC/How%20to%20Invest%20in%20the%20Phils%202004.pdf
    Travel Document Systems, (1996-2008), Philippines Asia Economy Article
    Retrieved from: http://www.traveldocs.com/ph/economy.htm
    U.S. Department of State, Bureau of East Asian and Pacific Affairs, (2008) Philippines Statistics
    Retrieved from: http://www.state.gov/r/pa/ei/bgn/2794.htm
    Department of Foreign Affairs and Trade, (2008), China’s Industrial Rise: East Asia’s Challenge
    Retrieved from: http://www.dfat.gov.au/publications/chinas_rise/summary.html
    Mission Love Seeds, Inc. (2008)
    Retrieved from: http://www.missionloveseeds.org/
    Virola, R. National Statistical Coordination Board, (1997-2008)
    Retrieved from: http://www.nscb.gov.ph/sna/2008/2ndQ2008/2008qpr2.asp
  • Citations
    Philippines Country Studies, (2008)
    Retrieved from: http://www.country-studies.com/philippines/relations-with-asian-neighbors.html
    MCA Virtual Philippines Inc., (2002) Planning Your Investment
    Retrieved from: http://www.outsourceit2philippines.com/articles-outsource/planning-outsource-investment.htm
    Angeles City for You, (2008) Incentives and Restrictions Article
    Retrieved from: http://www.ac4you.com/investment/comparison.htm
    Philippines Economy Watch, (2008), Philippines Central Bank Raises Rates Again In August Article
    Retrieved from: http://philippineseconomy.blogspot.com/
    Xinhua News Agency, (2003), Expert, Philippine economy to stumble over U.S. slowdown
    Retrieved from: http://news.xinhuanet.com/english/2008-03/19/content_7822991.htm
    Business Week, (2008)
    Retrieved from: http://www.businessweek.com/adsections/2008/pdf/01282008.pdf
    Philippine Daily Inquirer, (2008)
    Retrieved from: http://www.gsmcondo.com/pdf/February_01a_2008.pdf
  • References
    Electronic Resource: https://www.cia.gov/library/publications/the-world-factbook/geos/rp.html
    Electronic Resource: http://www.philippine-embassy.de/bln/images/PTIC/How%20to%20Invest%20in%20the%20Phils%202004.pdf
    Electronic Resource: http://www.traveldocs.com/ph/economy.htm
    Electronic Resource: http://www.state.gov/r/pa/ei/bgn/2794.htm
    Electronic Resource: http://www.dfat.gov.au/publications/chinas_rise/summary.html
    Electronic Resource: http://www.missionloveseeds.org/
    Electronic Resource: http://www.nscb.gov.ph/sna/2008/2ndQ2008/2008qpr2.asp
    Electronic Resource: http://www.country-studies.com/philippines/relations-with-asian-neighbors.html
  • References
    Electronic Resource: http://www.outsourceit2philippines.com/articles-outsource/planning-outsource-investment.htm
    Electronic Resource: http://www.ac4you.com/investment/comparison.htm
    Electronic Resource: http://philippineseconomy.blogspot.com/
    Electronic Resource: http://news.xinhuanet.com/english/2008-03/19/content_7822991.htm
    Electronic Resource: http://www.businessweek.com/adsections/2008/pdf/01282008.pdf
    Electronic Resource: http://www.gsmcondo.com/pdf/February_01a_2008.pdf