Investors Urged to Consider Philippines for Expansion Plans
The National Economic and Development Authority (NEDA) is encouraging investors to look at the Philippines for their expansion endeavors, citing reforms to enhance the country’s investment environment and available opportunities.
Speaking at the Philippine Investors Dialogue in Washington DC on April 17, NEDA Secretary Arsenio Balisacan highlighted the reasons why investors should choose the Philippines for their expansion. Despite global economic challenges and uncertainties in major economies, Balisacan attributed the government’s optimism to its proactive approach in pursuing investment and trade opportunities.
Key reforms and initiatives have been implemented to address ambiguities in rules, expand local markets, streamline government processes, and promote healthy competition. The government’s commitment to improving the ease of doing business has been emphasized through policy issuances by the President.
The government is optimistic about growth and job creation, with a focus on accelerating infrastructure projects and a housing program. Infrastructure flagship projects worth around $161.7 billion and a housing program aiming to build 3.3 million units by 2028 are expected to support economic development.
Investors can anticipate increased demand in the Philippines over the coming decades due to the growing working-age population. The government is prioritizing education, health, and social protection systems to capitalize on this demographic dividend.
The Philippine Investors Dialogue, held during the World Bank Group-International Monetary Fund Spring Meetings, saw the participation of US business officials. Finance Secretary Ralph Recto, Budget Secretary Amenah Pangandaman, and Bangko Sentral ng Pilipinas Deputy Governor Francisco Dakila Jr. were also present at the event.
