ASEAN pledges PHP 252B investments to Philippines since 2020

The Philippines has secured PHP 252 billion in investment pledges from fellow ASEAN member states since 2020, highlighting the country’s growing appeal as a regional investment hub.

From January to July 2025 alone, ASEAN countries contributed PHP 58.07 billion in Board of Investments (BOI)-approved projects, according to the Department of Trade and Industry (DTI).

Trade Secretary and BOI Chair Cristina A. Roque emphasized the agency’s commitment to deepening investment ties with ASEAN neighbors, particularly in the digital economy sector.

“As we build stronger trade and investment ties with our ASEAN neighbors, these numbers reflect the growing confidence of foreign investors in the Philippines as a place for business growth,” Roque said.

“We will keep working to create a stable and welcoming business environment, one that brings in more investments and opens up real opportunities for Filipino,” she added.

Singapore has emerged as the top ASEAN investor in the Philippines, accounting for PHP 246 billion in approved projects over the past five years.

Other leading ASEAN sources include Indonesia (PHP 12.27 billion), Thailand (PHP 4.34 billion), and Malaysia (PHP 1.7 billion).

The Information and Communication sector has received the largest share of these investments at PHP 169.59 billion, followed by the Power sector—including renewable energy—at PHP 74.20 billion.

Additional capital flowed into Manufacturing (PHP 5.58 billion), Administrative and Support Services (PHP 1.41 billion), and Agriculture, Forestry, and Fishing (PHP 930 million).

These projects are projected to generate 15,358 new jobs across the country from 2020 through July 2025.

“The BOI-approved projects from ASEAN investors, particularly those in the Information and Communication and the Renewable Energy sectors, align with the Philippines’ push for smart and sustainable manufacturing and services,” said BOI Executive Director Evariste M. Cagatan.

President Ferdinand R. Marcos Jr. has prioritized strengthening regional investment cooperation, holding bilateral talks during state visits to Vietnam and the 46th ASEAN Summit in Malaysia in May 2025.

The Bangko Sentral ng Pilipinas (BSP) also reported positive trends in ASEAN foreign direct investment (FDI), with net inflows reaching USD 95.78 million from January to July 2025.

Singapore contributed USD 63.61 million of that total, followed by Malaysia with USD 31.56 million, reinforcing their position as key regional partners.

The BOI has recently promoted green investment opportunities at global events such as the UK Green Transition Fund and the Fourth International Conference on Financing for Development.

These initiatives aim to attract climate-aligned capital to both the Philippines and the broader ASEAN region.

In May 2023, the Philippines hosted the 83rd ASEAN Coordination Committee on Investment (CCI) meeting, which focused on harmonizing cross-border investment policies and strengthening regional promotion campaigns.

The BOI also participated in the October 2024 launch of the ASEAN Regional Investment Promotion Action Plan (RIPAP) in Vientiane, Lao PDR.

RIPAP aims to boost ASEAN’s competitiveness by attracting FDI into key sectors like biofuels, medical devices, solar photovoltaic equipment, and regional supply chains.

The DTI and BOI will join the ASEAN Investment Forum (AIF) in Kuala Lumpur this October under the theme “Foreign Direct Investments for Inclusivity and Sustainability.”

The event will showcase investment-ready projects aligned with RIPAP 2025–2030 and bring together ASEAN economic ministers, global investors, and industry leaders.

As the Philippines prepares to assume the ASEAN Chairmanship in 2026, the BOI said it sees sustained regional investments as critical to building a competitive and resilient economy.