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Too Bullish On The Philippines?

 
• By Salman Bokhari

Once dubbed “the sick man of Asia,” the Philippines is now being touted by many as the ASEAN nation worthy of investment consideration. It is not to suggest there are no challenges. International companies frequently cite lack of decision-making transparency and corruption as key operating challenges, plus a bureaucracy that can slow down processes. But an ongoing increase in pharmaceutical consumption, coupled with government investment in universal health care, as well as economic and population growth, make the Philippines an interesting and attractive mid-term pharmaceutical market in Asia.

Pharmaceutical and life sciences companies seem to be reawakening to the growing market opportunities in the Philippines, where the demand for health care is expected to continue rising with an increase in the population (to over 100 million), growth in per capita GDP income, increased spending on medical care and expanding interest in investment in health care facilities.

The Philippines attracted far greater attention in the 1970s and 1980s. However, thereafter followed a period of economic and political...

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