Anyone, regardless of nationality, is welcome to invest in the Philippines. With the liberalization of the foreign investment law, 100% foreign equity may be allowed in all areas of investment except those reserved for Filipinos by mandate of the Philippine Constitution and existing laws.
The economy of the Philippines is the world's 37th largest economy by GDP of over US$330.91 billion (Source: World Bank 2018), it is the 16th largest economy in Asia, and the 5th largest economy in the ASEAN. The Philippines is one of the emerging markets and is the sixth richest in Southeast Asia by GDP per capita.
The Philippines is primarily considered a newly industrialized country, which has an economy transitioning from one based on agriculture to one based more on services and manufacturing. As of 2019, GDP by purchasing power parity was estimated to be at $1,025.758 billion.
Norwegian Businesses in the Philippines
In the Philippines, the Norwegian Shipowners Association remains to have a strong presence primarily due to the Philippines and Norway being traditional partners in the maritime sector. Aside from shipping and the maritime industry, Norwegian businesses thrive in the Philippines including Colibria AS; Det Norske Veritas AS; Norsk Hydro AS (Philippines), among other leading global companies. The Norwegian Government Pension Fund Global also has equity from various Philippine companies.
The Philippines Norway Business Council (PNBC) is an important forum for Norwegian companies represented in the Philippines as well as the Philippine companies with links to Norwegian business.