MANILA - Something big is happening in the global supply chain, and if the Philippines plays its cards right, significant manufacturing investments may come its way in the wake of Covid-19.
Foreign firms had earlier shouldered increased production cost for their output coming from the mainland after the Trump administration slapped higher tariffs on thousands of imports from China. Japan, for instance, already has a US$2.2 billion stimulus package to cover the cost for Japanese firms leaving China and returning to Japan.
According to Forbes magazine,"This ongoing diversification of the global supply chain creates ample opportunities for corporate investors and gives rise to new markets in countries like Vietnam, now getting the equivalent of a steroid shot to beef up their own economy." Also in place is the Revised Corporation Code of the Philippines, which amended the 40-year-old Corporation Code to create a more business-friendly environment and improve the ease of doing business here.
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