Philippines lags behind ASEAN in attracting EU investment

The ASEAN region continues to be a prime investment destination for European Union investors, according to a survey by the EU-ASEAN Business Council.

However, the Philippines did not make the cut for preferred investment locations, with only 40 percent of EU business owners planning to expand operations there.

European business confidence in ASEAN is resilient despite global trade uncertainties, with many companies anticipating business expansion in key markets such as Vietnam, Indonesia, Malaysia, and Thailand.

Respondents indicated that the ASEAN region is increasingly vital for their global revenues.

Despite the EU being a trusted partner, only 20 percent of surveyed businesses believe that European institutions are adequately supporting their interests in the region.

This suggests a need for the Philippines to do more to promote itself as an investment destination to attract EU investment.