Philippines government is open to investors doing business in the Philippines. It has shown by offering many incentives to foreign investors to operate all kinds of businesses in the Philippines. Foreign ownership is allowed without restriction for all those companies who mainly indulge in export activities.
There are many ecozones, freeports available in many parts of the country where companies who locate in them receive many tax breaks not available in other parts of the country.
Doing business Philippines does have a lot of bureaucracy involved but after the initial startup things go a lot smoother.