The country has adopted progressive legislation to attract investments in certain key areas. Emphasis has likewise been placed on the liberalization of investment, trade and foreign exchange policies, the privatization of government corporations and the development of regional industrial centers and export processing zones.

Rice is the staple native food cereal. Other significant crops are coconut, corn, sugar and bananas.

The Philippines possess large but relatively undeveloped mineral resources. It is among the world’s top producers of gold, copper and chromite. The Philippines geothermal reserves rank second in the world. Oil has also been discovered.

On January 1, 1998, the present Intellectual Property Code of the Philippines, which consolidates all intellectual property laws in the Philippines, including those governing technology transfer agreements, became effective. On August 21, 2001, President Gloria Macapagal-Arroyo signed into law Republic Act No. 9150, otherwise known as An Act Providing for the Protection of Layout Designs (Topographies) of Integrated Circuits, Amending for the Purpose Certain Sections of Republic Act No. 8293. On June 7, 2002, President Arroyo signed into law Republic Act No. 9168, otherwise known as an Act to Provide Protection to Plant Varieties, Establishing a National Plant Variety Protection Board and For Other Purposes. On February 10, 2004, the Optical Media Law or Republic Act No. 9329 was signed into law. As a result, the intellectual property laws have been significantly amended and strengthened to protect intellectual property rights.