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PHL attracting more investments from ASEAN neighbors — BoI
Investment pledges from Association of Southeast Asian Nations (ASEAN) countries have reached PHP251.98 billion since 2020.
Singapore is the largest investor, contributing PHP245.97 billion, followed by Thailand (PHP4.34 billion), Malaysia (PHP1.65 billion), and Indonesia (PHP12.27 million).
The majority of these investments are channeled into the information and communication sector (PHP170 billion) and the power sector, including renewable energy (PHP74.2 billion).
These projects are anticipated to create over 15,000 new jobs for Filipinos.
Trade and Industry Secretary and BOI Chair Cristina Roque stated that these numbers reflect the growing confidence of foreign investors in the Philippines.
She added that the government will continue to work to create a stable and welcoming business environment.
BOI Executive Director Evariste Cagatan highlighted that the ASEAN investments, especially in information and communication and renewable energy, support the Philippines' goals for smart and sustainable manufacturing and services.
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