CMT at forefront in Philippines’ fast growing economy

Fresh from posting a stellar 6.9% GDP performance for the first quarter of 2016 and outpacing China, the Philippines is cementing its foothold as one of the fastest growing economies in the Asian region. Spurred mostly by strong consumption and a growing middle class, the Philippines is undoubtedly an Asian economic bright spot.

One of the country’s leading law firms, Cruz Marcelo & Tenefrancia (CMT) is optimistic that the Philippines is poised to continue its steady economic growth under the new leadership of President Rodrigo Duterte, whose 10-point socioeconomic programme includes, among others: maintaining current macroeconomic policies, including fiscal, monetary and trade policies; instituting progressive tax reform and more effective tax collection, indexing taxes to inflation; increasing competitiveness and the ease of doing business and pursuing the relaxation of the constitutional restrictions on foreign ownership, except as regards land ownership, in order to attract foreign direct investment; and accelerating annual infrastructure spending to account for 5% of GDP, with public-private partnerships (PPPs) playing a key role.

With its legacy of three decades of legal practice, CMT is uniquely situated to provide unparalleled legal representation in various fields of law. It is widely recognized as one of the top-tier firms in the fields of Litigation and Dispute Resolution, and Intellectual Property. Its competencies in Corporate and Special Projects, Mining and Energy, Immigration, Mergers and Acquisitions (M&A), Infrastructure and PPP Projects, as well as Real Estate and Construction, are likewise well established.