Gov’t to intensify efforts to attract foreign direct investments

The Marcos administration will step up efforts to boost foreign direct investments (FDIs) after falling short of the USD9-billion target for 2024, Malacañang said Wednesday, March 12.

Palace Press Officer and Presidential Communications Office (PCO) Undersecretary Claire Castro said the government is reviewing why FDI net inflows remained nearly unchanged—from USD8.925 billion in 2023 to USD8.93 billion in 2024.

“Aalamin po natin iyan at kung meron pong pagkukulang ay gagawan po agad ng paraan ng ating mga business experts at ng ating mga head ng agencies para po matugunan kung ano man ang magiging epekto nito,” she said.

Castro added that President Ferdinand Marcos Jr. is holding meetings to attract more foreign investments.

FDIs refer to investments by non-residents in Philippine enterprises, with at least 10% equity, or investments by non-resident subsidiaries in their local direct investors. These include equity capital, reinvested earnings, and borrowings.

Bangko Sentral ng Pilipinas data showed that Japan, the UK, the US, and Singapore were the top FDI sources in 2024. Most investments went into manufacturing, real estate, and information and communication.

In December 2024 alone, FDI net inflows reached USD110 million, with Singapore, Japan, the US, and Korea as key contributors.IMT