As the growth of the economy in the Philippines continues to accelerate with some forecasting it could hit 8 percent by the end of 2016, increasing numbers of foreign companies are seeking to invest in the country and create thousands of new executive-level jobs. Manila-based Monroe Consulting Group Philippines says it is perfectly placed to help new companies enter the country, given the executive recruitment company’s international-award winning services in emerging markets throughout Southeast Asia and the wider Asia-Pacific region.
King Santos, an executive recruitment consultant in Monroe Philippines’ specialised Industrial Division, said it was an exciting time for big business in the Philippines, which was reflected by the buoyant mood at the recent Philippine Semiconductor and Electronics Convention and Exhibition (PSECE) 2016 at SMX Moa, Pasay City, Metro Manila. The event is organised by the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI), the largest organization of foreign and Filipino electronics companies in the Philippines.
The Philippines is home to more than 400 electronic manufacturing firms, many of which are multinational corporations, including Analog Devices Inc., Texas Instruments (Phils.) Inc., Toshiba Information Equipment (Phils.) Inc., and Fujitsu Computer Products Corp. The biggest destinations for electronics exports, particularly semiconductors, are primarily the markets of Asia, including China, the United States and Europe.
“The sector already employs more than 2.2 million workers in the Philippines and we expect this to increase,” Mr Santos said. “There are an estimated 200 Japanese firms that are currently considering establishing manufacturing operations in the Philippines because of our English-speaking workforce, low labour costs and tax benefits being offered by the government. This alone will result in the creation of thousands of new jobs.”
Eliza Capulong, the head of Monroe’s Industrial Division, said the electronics industry accounted for almost $1 billion in foreign and domestic investments in 2103 and had been identified by the Philippine Development Plan (PDP) 2011-2016 as one of 10 priority sectors. The Philippines government and SEIPI were working together to strengthen the country’s workforce, she said.
“At the executive level, Monroe has placed dozens of senior professionals with some of the world’s leading companies who are operating in the Philippines,” Eliza said. “We are known for our professionalism, extensive network within the industries in which we operate, our industry knowledge and services sourcing and securing talent for hard-to-find technical or executive positions.”