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A GDP certification in Philippines will benefit your company in several ways. These benefits include increasing your bottom line, improving consumer confidence, and maintaining the integrity of your company.
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Benefits of GDP Certification in Philippines www.factocert.com
A GDP certification in Philippines will benefit your company in several ways. These benefits include increasing your bottom line, improving consumer confidence, and maintaining the integrity of your company.
Industrial sector Compared to its Asian neighbors, the Philippines has been relatively slow on the uptake in terms of industrialization. It is the fourth-largest shipping country in the world, but its lack of infrastructure has hampered investment. While the industrial sector has made a fair contribution to the country’s GDP, the country needs to be more aggressive in attracting foreign direct investment. The Philippines also has a well-developed service sector, with over a third of the workforce engaged in the service sector. The BPO industry, for example, has been lauded as a driver of consumer spending. The sector also has a large amount of competition, mainly from China.
Good Distribution Practices (GDP) rules cover how pharmaceutical items are stored and moved. Medicinal product distribution is one of the critical areas of regulatory focus for global regulators. To address this issue, several guidelines have been developed. Many pharmaceutical manufacturers have already developed modern quality systems. A quality policy and procedures are included in these documents. GDP guidelines provide specific requirements for wholesale distributors. It ensures that the right medicines reach the correct addressee satisfactorily. It also promotes the safety of products in the supply chain. It can help eliminate the quality gap between export and domestic markets and help to reduce counterfeiting. It also provides an effective recall procedure.
GDP certification in Philippines will restore consumer confidence Despite the recent decline in foreign investments, the Philippines is still one of the fastest-growing economies in Southeast Asia. It was the second-largest ASEAN state after Vietnam in terms of GDP expansion last year. The country’s economy relies heavily on domestic consumption, and there are still many opportunities for the Philippines to emerge from its long-term lockdown. The country’s recovery can be accelerated by adopting the Corporate Recovery and Tax Incentives for Enterprises Act (CRTEA), which rationalizes fiscal incentives. It is also possible for the country to return to its pre-pandemic consumption-driven economy, a strategy that could help restore consumer confidence.
