BOI reports P252B in ASEAN investments since 2020

Investments from member-states of the Association of Southeast Asian Nations (ASEAN) have reached P252 billion since 2020, the Board of Investments (BOI) reported on Tuesday.

The bulk of the inflows came from Singapore at P246 billion, followed by Thailand at P4.34 billion, Malaysia at P1.7 billion, and Indonesia at P12.27 million.

According to the BOI, most of the projects were in information and communication technologies, which accounted for P169.59 billion, followed by the power sector including renewable energy at P74.20 billion. Other investments went to manufacturing (P5.58 billion), administrative and support services (P1.41 billion), and agriculture, forestry, and fishing (P930 million).

“Collectively, these projects are projected to generate 15,358 new jobs for Filipinos from 2020 up to July 2025,” the BOI said in a statement.

BOI Executive Director Evariste Cagatan said the projects align with the Philippines’ strategy to promote smart and sustainable manufacturing and services. “The BOI-approved projects from ASEAN investors, particularly those in the Information and Communication and the Renewable Energy sectors, align with the Philippines’ push for smart and sustainable manufacturing and services,” he said.

Trade and Industry Secretary and BOI Chair Cristina Roque added that the government remains committed to strengthening partnerships within the region while creating opportunities for local enterprises. “As we build stronger trade and investment ties with our ASEAN neighbors, these numbers reflect the growing confidence of foreign investors in the Philippines as a place for business growth. We will keep working to create a stable and welcoming business environment, one that brings in more investments and opens up real opportunities for Filipinos,” Roque said.

The BOI emphasized that sustained ASEAN investments are expected to reinforce long-term economic growth while supporting the expansion of key sectors across the country.