AMONG VARIOUS cities in Asia, Manila has emerged as one of the best value-for-money investment destinations due to its relatively low wage rates, liberalized economy, and wealth of talent, according to a recent Japan External Trade Organization (Jetro) survey. The survey conducted in January included 29 major cities in Asia, including China’s Shanghai and Shenzhen.
Based on the results, Manila’s average minimum wage rate of $130 a month was more competitive than Shanghai’s $141 and Shenzhen’s $139 a month. These two cities had seen wages go up due to the increasing demand and growing competition for human resources.
Compared with other regions in China, where monthly salaries ranged from $117-$141, wages in Manila were still relatively low, especially considering the quality of the workforce.
Its competitive wage level was not the only thing that Manila had going for it, the Jetro survey showed.
Manila was also considered one of the best value-for-money investment locations because of its generally liberalized economy and overall lower operational costs.
The Jetro survey was conducted by the agency’s overseas offices, in cooperation with various Japanese chambers of commerce and industry, government agencies, and relevant companies in each Asian country.
According to Jetro’s 2010 Global Trade and Investment Report, Japanese firms were increasing their overseas investments, as earnings from overseas units, particularly those in Asia Pacific, continue to grow.
Data from the consolidated financial statements of 887 listed Japanese firms with overseas operations, their overseas units accounted for 35 percent of sales and 43.5 percent of operating profit.
By Abigail L. Ho/Philippine Daily Inquirer
First Posted 22:32:00 08/31/2010/ http://business.inquirer.net/money/topstories/view/20100831-289829/Manila-still-competitive-as-investment-location
