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Philippines Real Estate

We offer Philippines real estate investment information for Manila, San Fernando, Aparri, Legaspi, Samar, Cebu, Lloilo, Davao, Butuan and Puerto Princesa. Scroll down for more information about the Philippines.

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About The Philippines

Philippines Population: 86,241,697 (July 2004 est.)
Languages: Filipino (based on Tagalog) and English; eight major dialects - Tagalog, Cebuano, Ilocan, Hiligaynon or Ilonggo, Bicol, Waray, Pampango, and Pangasinense.
Capital: Manila
Government Type: Republic
Independence Day: 12 June 1898 (from Spain)
Legal System: Based on Spanish and Anglo-American law; accepts compulsory ICJ jurisdiction, with reservations.
Currency: Philippine peso (PHP)

Executive Branch:

Chief of State: President Gloria MACAPAGAL-ARROYO (since 20 January 2001); note - the president is both the chief of state and head of government.

Head of Government: President Gloria MACAPAGAL-ARROYO (since 20 January 2001); note - the president is both the chief of state and head of government cabinet: Cabinet appointed by the president with the consent of the Commission of Appointments.

American Embassy: 1201 Roxas Boulevard, Manila
Mailing Address: PSC 500, FPO AP 96515-1000
Telephone: [63] (2) 523-6300 FAX: [63] (2) 522-4361

General Overview: The Philippine Islands became a Spanish colony during the 16th century; they were ceded to the US in 1898 following the Spanish-American War. The islands attained their independence in 1946 after Japanese occupation in World War II. The 21-year rule of Ferdinand MARCOS ended in 1986, when a widespread popular rebellion forced him into exile. In 1992, the US closed its last military bases on the islands. The Philippines has had a series of electoral presidential transitions since the removal of MARCOS. The government continues to struggle with armed Muslim insurgencies in the south.

Economic Overview: The Philippines was less severely affected by the Asian financial crisis of 1998 than its neighbors, aided in part by annual remittances of $6-7 billion from overseas workers. From a 0.6% decline in 1998, GDP expanded by 2.4% in 1999, and 4.4% in 2000, but slowed to 3.2% in 2001 in the context of a global economic slowdown, an export slump, and political and security concerns. GDP growth accelerated to 4.4% in 2002 and 4.2% in 2003, reflecting the continued resilience of the service sector, gains in industrial output, and improved exports. Nonetheless, it will take a higher, sustained growth path to make appreciable progress in poverty alleviation given the Philippines' high annual population growth rate and unequal distribution of income. The MACAPAGAL-ARROYO Administration has promised to continue economic reforms to help the Philippines match the pace of development in the newly industrialized countries of East Asia. The strategy includes improving the infrastructure, strengthening tax collection to bolster government revenues, furthering deregulation and privatization of the economy, enhancing the viability of the financial system, and increasing trade integration with the region. Prospects for 2004 will depend on the economic performance of two major trading partners, the US and Japan, and on increased confidence on the part of the international investment community.

International Disputes: Involved in complex dispute with China, Malaysia, Taiwan, Vietnam and possibly Brunei over the Spratly Islands, known locally as the Kalayaan (Freedom) Islands, the 2002 "Declaration on the Conduct of Parties in the South China Sea," has eased tensions but falls short of a legally binding "code of conduct" desired by several of the disputants; Philippines retains a claim to Malaysia's Sabah State in northern Borneo based on the Sultanate of Sulu's granting the Philippines Government power of attorney to pursue a sovereignty claim.

Philippines Map

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