How business leaders make a better Philippines

Investments shape the economic landscape by not only stimulating overall growth and development but also creating jobs and livelihood opportunities, ensuring income security, and enhancing productivity. By promoting productivity through technological advancements and infrastructure development, investments drive sustained economic progress, ensuring a more prosperous and inclusive society.

In recent months, the Philippine government has pushed for policies that aligned with this goal. For instance, Executive Order No. 18 instituted “green lanes” for strategic investments. This aims to streamline and expedite the procedures in acquiring licenses and permits for investments. The approach reflects the government's commitment to creating a more investor-friendly environment, emphasizing efficiency and ease of doing business to attract both local and foreign investment.

In fact, the Philippine Statistics Authority (PSA) reported that the approved total foreign investment projects during the third quarter of 2023 amounted to P27.30 billion, indicating a year-on-year increase of 109.3%. Singapore emerged as the top source of these pledges, accounting for 47.8% of the total investment commitments, followed by Taiwan (13.3%) and the United Kingdom (11.2%).

By industry, the manufacturing sector secured the predominant share in investment pledges, garnering P16.43 billion, equivalent to 60.2% of the overall total. Other notable sectors included administrative and support service activities (15.7%) and real estate activities (15.5%). These foreign investment initiatives are anticipated to yield approximately 19,000 jobs.

Notably, President Ferdinand Marcos Jr. recently issued Executive Order No. 49, establishing the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) under the Office of the President. The EO states that this office will “ensure effective integration, coordination and implementation of the various investment and economic policies and programs of the Government.” 

Indeed, the creation of an office specifically tasked with monitoring and evaluating priority investments and projects is critical for attracting foreign