PH aims to outdo FDIs of ASEAN neighbors 

MANILA, PHILIPPINES — The Philippines is looking to surpass the foreign direct investment (FDI) inflows of its neighboring Association of Southeast Asian Nations (ASEAN) countries. 

During a forum, Department of Trade and Investments (DTI) Undersecretary Ceferino Rodolfo expressed his confidence in this goal after the Philippines hit US$28 billion in FDI net inflows from 2020 to 2022, beating Malaysia and Thailand. 

Rodolfo added that the DTI plans to surpass Vietnam’s inward FDI by 2025 and Indonesia’s FDI inflows by 2028.

Rodolfo — who also acts as the managing head of the Board of Investments (BOI) — also revealed that out of the 216 investment prospects they received last year, 70 of them advanced to establishing their projects in the Philippines.

Around 36 of these leads had already registered with the Securities and Exchange Commission or various investment promotion agencies in the country. 

These projects, amounting to PHP304.92 billion (US$5.45 billion), are expected to generate 17,965 jobs.