Int’l Dialogues And Roadshows Showcase PH To Global Market

The PBBM administration's Philippine Economic Briefings (PEBs), investor roadshows, and international dialogues have made significant contributions to the country's investment landscape.

The economic team recently engaged with Dubai-based funds interested in co-investment opportunities in infrastructure and fixed-income instruments. I Photo: Department of Finance Facebook

Data culled by the Department of Finance showed that PHP 800 billion in investment pledges from Singapore and Indonesia; PHP 229 billion in investment pledges from the United States of America; PHP 157.0 billion in approved foreign investments from Germany; PHP 293.1 million in approved investments from the United Kingdom (UK); and PHP 3.8 billion approved foreign investments, US$600 million infrastructure investment pledges, and PHP 708.2 billion investment deals from Japan.

These events have provided investors with valuable insights into the Philippines' key macroeconomic strengths, robust economic performance, commitment to structural reforms, and a stable policy environment.

Finance Secretary Benjamin E. Diokno emphasized the importance of engaging with top-level investors to enhance the Philippines' visibility in international markets, especially in untapped regions.

This approach aligns with the President's call to establish strategic alliances with the global community.

Secretary Diokno, as the head of the economic team, highlighted the significance of conducting regular and targeted briefings to keep global investors and partners informed about the Philippines' priority areas and the latest policy initiatives aimed at improving the investment climate.

International fund managers, investment houses, and fixed-income investors have shown particular interest in understanding the Philippines' credit story, growth prospects, and priority investment sectors.

The economic team recently engaged with Dubai-based funds interested in co-investment opportunities in infrastructure and fixed-income instruments, such as Environmental, Social, and Governance (ESG)-linked bonds, through the Maharlika Investment Fund, which is expected to be operational by the end of 2023.

By showcasing the Philippines' advantages, including a young and highly skilled workforce and an improved investment environment, the government has successfully attracted foreign direct investments (FDI) into the country.

Secretary Diokno mentioned that investors often seek areas that align with the needs of both parties.

The demographic advantage of a young workforce, the liberalized renewable energy sector, and the availability of critical minerals for clean technologies have all captured the interest of foreign investors.

Beyond investments, international engagements enable the Philippine government to gather valuable input and feedback from industry leaders on various issues. It also provides recommendations on how to enhance investment policies and strengthen the country's position in the global economy.

Investor roundtables in Japan and the Middle East, for instance, prompted the review and adjustment of policies related to ease of doing business, value-added tax (VAT) exemptions, fiscal incentives under the CREATE Act, and double taxation avoidance in response to private sector concerns.

Secretary Diokno emphasized the importance of capitalizing on the post-pandemic period to continue targeted economic missions and establish bilateral ties, supporting the agenda for a future-proof and sustainable economy.

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