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Philippines set to become Asia's top investment destination - DTI


The Philippines is poised to become Asia's premier investment destination, with a 203% surge in planned investments to PHP698bn (USD13.8bn) in the first half of the year, up from last year's PHP230bn, according to data from the country's Board of Investments (BoI). Trade Secretary Alfredo Pascual highlighted the record-breaking PHP423bn from foreign investments, a 5,264% year-on-year increase. Germany led the investment influx, committing USD7.7bn, followed by Singapore, the Netherlands, France, and the US. These investments, primarily in renewable energy, are set to create nearly 30,000 jobs and are largely targeted to Region 6 (Western Visayas). Pascual affirmed that these figures reflect the Philippines' growing appeal to global investors.

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