In a stunning economic milestone, the Philippines has soared to new heights with a record-breaking PHP1.9 trillion in approved investment pledges for 2024. The Board of Investments (BOI) announced this monumental achievement on February 24, 2025, highlighting the Marcos administration’s successful strategy to elevate the country as a top-tier investment hub. This surge represents a 29% increase from the previous year, showcasing a robust growth in investor confidence.
These investments are not just numbers on a page; they are set to create over 130,000 new jobs, promising a brighter future for countless Filipinos. Special Assistant to the President for Investment and Economic Affairs, Frederick Go, credited this success to the stellar performance of key investment promotion agencies like the BOI, Philippine Economic Zone Authority, Clark Development Corporation, and Bases Conversion and Development Authority.
Go expressed optimism about the future, stating that these investments will lead to significant economic benefits, including enhanced job opportunities and sustainable, investment-driven growth. The breakdown of these pledges shows a strong domestic investment of PHP1.35 trillion, a significant leap from PHP578 billion in 2023, alongside foreign investments totaling PHP544 billion.
Leading the charge in foreign investment are Switzerland, South Korea, the Netherlands, Japan, and Singapore. The focus of these investments is on transformative sectors such as renewable energy, telecommunications infrastructure, innovative manufacturing, and tech-enabled agriculture, aligning with the government’s priority areas for development.
Notably, investments in renewable energy alone reached PHP1.30 trillion, with manufacturing and real estate also seeing substantial commitments at PHP144 billion and PHP138 billion, respectively. Other sectors like transportation and storage, and utilities such as electricity, gas, steam, and air conditioning supply, also received significant pledges, amounting to PHP131 billion and PHP79 billion.
This unprecedented influx of investments underscores the Philippines’ rising status as a beacon for global investors, promising a future of economic prosperity and innovation.