Philippine investments hit ₱1.9T in 2024, up 29% from 2023

Investments approved by the Philippines' leading investment promotion agencies (IPAs) reached a record-high of ₱1.9 trillion in 2024.

This amount represents a 29 percent increase from 2023, with domestic investments surging to ₱1.35 trillion and foreign investments accounting for ₱544 billion.

Frederick Go, Special Assistant to the President for Investment and Economic Affairs, attributed this success to growing investor confidence in the Philippines due to the Marcos administration's policies.

Renewable energy leads all investment categories with ₱1.30 trillion, followed by manufacturing at ₱144 billion, real estate at ₱138 billion, transportation and storage at ₱131 billion, and electricity supply sectors at ₱79 billion.

These projects are expected to generate more than 130,000 jobs and highlight the country's adaptability as foreign investors from Switzerland, South Korea, the Netherlands, Japan, and Singapore secure strategic partnerships with Filipino-owned entities.