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Editorial

Overview

A general outlook of optimism continues to surround the Philippine economy. Business Process Outsourcing (BPO) remains an area of growth, and a lucrative source of instructions for lawyers across a number of practice areas. In addition, Public Private Partnerships (PPPs) – the cornerstone of President Aquino’s development programme – are now being pursued in earnest, and infrastructure projects are demanding the attention of foreign and local firms alike. The passage of a bill in July 2014 enabling foreign banks to operate in the market is likely to generate interest in this sector.

The legal market has remained relatively stable, with no domestic mergers and few partner moves. A handful of full-service firms continue to dominate the market: Romulo Mabanta Buenaventura Sayoc & Delos Angeles, SyCip Salazar Hernandez & Gatmaitan, Angara Abello Concepcion Regala & Cruz Law Offices (ACCRALAW), Picazo Buyco Tan Fider & Santos, and Quisumbing Torres (a Baker & McKenzie correspondent firm). Regulations prevent foreign firms from establishing a physical presence in the country, but some domestic firms have strong links with international firms.

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