Most but not all current DVD players purchased here have multiregion capabilities. However, I will note that my father recently purchased two separate, different branded generic players that have issues playing certain Region 1 DVDs.
Good luck with your venture, though. Please let us know if it succeeds. I wish you well, but really don't see how you can compete in the current Philippine market where pirated DVDs are as low as 25 pesos (that I've seen, not sure if anyone sells them for less) and almost everyone with a broadband internet connection can easily access a film weeks or even months before its official US street date release without leaving their homes.
Perhaps if you capture the expat market, or other people who show a little more respect for copyright laws.