News » Duterte gov’t approves P1.1Tn manufacturing investments

Duterte gov’t approves P1.1Tn manufacturing investments

Duterte gov’t approves P1.1Tn manufacturing investments

A total of PHP1.1 trillion (US$20 billion) investments were approved in the manufacturing sector during President Rodrigo Dueterte’s presidency, said Department of Trade and Industry (DTI) Secretary Ramon Lopez.

During the 7th Manufacturing Summit, Lopez stated that the Duterte admin created a “vibrant business environment” and attracted a lot of investments in the last six years.

Additionally, about US$4.3 billion worth of foreign direct investments (FDIs) in the manufacturing sector also entered the country in the same period.

With the further reopening of the economy, manufacturing output is on the trajectory of hitting the pre-pandemic level by year-end. In the first quarter of 2022, manufacturing output stood at PHP975 billion (US$17.9 billion), the highest output recorded in all first quarters of the previous years.

“This shows that once the domestic and global economy adapts better to the pandemic situation, the Philippine manufacturing sector is ready to return to the pre-pandemic trajectory,” he added.

Read more here.

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.