Marcos wants PH to be 2nd in ASEAN in terms of foreign direct investments by 2028: DTI | ABS-CBN
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Marcos wants PH to be 2nd in ASEAN in terms of foreign direct investments by 2028: DTI
Marcos wants PH to be 2nd in ASEAN in terms of foreign direct investments by 2028: DTI
ABS-CBN News
Published Jan 03, 2024 09:44 PM PHT
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Updated Jan 03, 2024 10:10 PM PHT
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The Philippines is aiming to become the second largest destination for foreign direct investments in Southeast Asia in line with President Ferdinand Marcos Jr's vision, a Trade official said on Wednesday.
The Philippines is aiming to become the second largest destination for foreign direct investments in Southeast Asia in line with President Ferdinand Marcos Jr's vision, a Trade official said on Wednesday.
Trade Undersecretary Ceferino Rodolfo said the country has already overtaken Thailand and Malaysia in terms of attracting foreign capital.
Trade Undersecretary Ceferino Rodolfo said the country has already overtaken Thailand and Malaysia in terms of attracting foreign capital.
In the next four years, the Philippines will seek to overtake Vietnam and then Indonesia, Rodolfo said. Singapore meanwhile is seen remaining the top FDI destination in ASEAN.
In the next four years, the Philippines will seek to overtake Vietnam and then Indonesia, Rodolfo said. Singapore meanwhile is seen remaining the top FDI destination in ASEAN.
Rodolfo said the sectors attracting a lot of foreign investments currently are renewable energy, electronics manufacturing, software development and business process outsourcing.
Rodolfo said the sectors attracting a lot of foreign investments currently are renewable energy, electronics manufacturing, software development and business process outsourcing.
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Another bright spot would be mineral production, especially those used to produce batteries for electric vehicles.
Another bright spot would be mineral production, especially those used to produce batteries for electric vehicles.
"That is why we are focusing on attracting investments in nickel processing here," Rodolfo said.
"That is why we are focusing on attracting investments in nickel processing here," Rodolfo said.
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