President Bongbong Marcos Jr. delivered his State of the Nation Address (SONA) with this message to the international community: The Philippines is ready. Invest in the Filipino. He mentioned that Filipinos are dependable, hardworking, innately skilled, adaptable, and have a heart for service.
The Department of Foreign Affairs, through its Foreign Service Posts, reported to the Philippine Congress that as of December 2024 there are over 10 million Filipinos overseas. Half are based in the Americas, notably USA and Canada, almost 30% in Europe, Africa, and the Middle East, and more than 20% are in the Asia-Pacific region.
The Filipino diaspora therefore can echo what the president appealed that our homeland is indeed ready to welcome more foreign investors. Overseas Filipinos, whether they are immigrants or migrants, are the best ‘ambassadors’ of the Philippines as they interact daily with various nationalities who are either their employers, customers, contacts, or business partners.
They can share what the Philippine Board of Investments posted on its website – https://boi.gov.ph/why-philippines/ – regarding these sectors where foreign companies can invest:
Manufacturing and Logistics – The Philippine manufacturing, logistics and IT-BPM sectors are growing by leaps and bounds over the past years through the efforts of the freeports and ecozones in the central plains of Luzon – the Authority of the Freeport Area of Bataan (AFAB), Bases Conversion and Development Authority (BCDA), Clark Development Corporation (CDC), Clark International Airport Corporation (CIAC), Subic Bay Metropolitan Authority (SBMA), Subic Clark Alliance for Development (SCAD) and the Philippine Economic Zone Authority (PEZA). These freeports offer low labor cost and highly qualified, productive, and versatile workforce. They facilitate efficient flow of supply and value chains with their improved business environment, logistic operations and services. Their location provides a strategic manufacturing and logistics access point in ASEAN.
Tourism Cluster – The Philippines’ 7,100 islands boast of breathtaking sceneries and amazing cultural flavors, which are being developed and promoted by the Aurora Pacific EcoZone (APECO), Cagayan Economic Zone Authority (CEZA), John Hay Management Corporation (JHMC), Poro Point Management Corporation (PPMC), Philippine Retirement Authority (PRA), Tourism Infrastructure and Enterprise Zone Authority (TIEZA) and Tourism Promotions Board (TPB). These Investment Promotion Agencies facilitate the improvement in tourism-related infrastructures to bring in more investments in the form of resorts, hotels, restaurants, and entertainment establishments.
Agro Industrial – With temperate climate, abundant water supply, fertile soil, and huge skilled labor force characterizing the following freeports/ ecozones – Mindanao Development Authority (MinDA), PHIVIDEC Industrial Authority (PIA), Regional Board of Investment-Autonomous Region of Muslim Mindanao (RBOI-ARMM) and Zamboanga City Special Economic Zone Authority (ZCSEZA) – the South Philippines Agri Industry Area of Excellence offers ideal locations to grow various produce in vast quantities, Mindanao being the food basket of the Philippines. MINDA, PHIVIDEC, RBOI-ARMM and ZCSEZA implement policies and programs that boost the growth of the agricultural industry, highly prioritizing its transformation into a modern, dynamic, and competitive agribusiness sector.
In September last year, Special Assistant to the President for Investment and Economic Affairs, Secretary Frederick Go, said that the Luzon Economic Corridor Project, a collaboration with the country’s G7 Global Infrastructure partners, is a priority project. Go’s mandate is to attract foreign direct investments (FDIs) into the Philippines.
Under the project is the Subic-Clark-Manila-Batangas (SCMB) Railway. “And you can just imagine the number of industries that would benefit from this, that can be put in place around this corridor. We’re talking about renewable energy, data centers, food production, digital connectivity, and the like,” Go explained.
Last June 26, the United States government, through the U.S. Trade and Development Agency (USTDA) and the Philippines’ Department of Transportation (DOTr), announced funding for technical assistance for the construction of the SCMB Railway, which is designed to link three major ports in Luzon and decongest traffic at the Port of Manila.
“We are grateful for the support in advancing this crucial infrastructure project, which will drive economic growth by improving connectivity between major ports and industrial hubs along the Luzon Economic Corridor. Once operational, the SCMB Railway will attract investments, create new opportunities for businesses, and most importantly, generate quality jobs that will benefit millions of Filipinos,” Go said.
Let’s do away with politics and help the Marcos Administration succeed. You can reach out to Ambassador Alfonso Ver, Consul General Marford Angeles or Trade Commissioner Vichael Roaring if you want to promote the Philippines as an investment destination to your respective employers, customers, contacts, or business partners.
Note: The columnist is a 24-year resident of Dubai and is currently working as Head of Corporate Communications of a global energy logistics company. He used to be a former Filipino Community Leader and can be reached at: artlosbanos@gmail.com
