| Philippines Economy | | | | continuous development. |
| The Philippines is one of the poorest countries in | | | | Mining is also important for the Philippines’ |
| Asia, although, at some point, there had been | | | | economy. Metal mining accounted for 44 per cent |
| great expectations concerning its economic | | | | of the value of production. Japan is one of the |
| growth. After the end of World War II, The | | | | most important importers, receiving gold and |
| Philippines were expected to become Asia’s | | | | copper from the Philippines. The Philippines are the |
| economic powerhouse, but in reality, it was not | | | | biggest source of refractory chromite in the |
| the case. | | | | world, at Masinloc. It is also rich in nickel ( from |
| | | | Hinatuan, the Dinagat Islands, Surigao and Palawan |
| The Philippines exports many electronics, as it | | | | ), gold (from Luzon, the Negros Islands, Mindanao, |
| involved in manufacturing activities for certain | | | | Masbate ), silver ( from Mindanao ) and copper ( |
| MNCs ( multinational corporations ) like Texas | | | | Negros Islands, Marinduque and Cebu ). The Mining |
| Instruments, Toshiba, Intel, Matsushita and Fujitsu. | | | | Act was signed in 1995. Its purpose was to |
| This way, the manufacturing industry makes | | | | promote the Philippines’ mining industry to |
| room for many jobs. More and more Filipino | | | | other countries. It also ensured economic viability |
| businesses and individual users move their | | | | and efficiency for mining activities. Companies |
| activities online, buying personal computers and | | | | were allowed to receive a four year permit which |
| networking systems. The IT sector is in a | | | | allowed them to explore certain areas. |