Foreign investments in Philippines lowest in four years despite Marcos’ touted pledges

February 16, 2025 , 08:04 PM

By Rodolfo Dacleson II

(February 16, 2025) – The Philippine Statistics Authority (PSA) has reported a significant decline in foreign investments in the Philippines last year despite the international pledges secured by Pres. Bongbong Marcos Jr.

According to a report from Business World, the PSA on Thursday said the country’s investment promotion agencies only approved P543.62 billion worth of foreign investments in 2024, which was 38.9% lower than the P889.24 billion in 2023. It was the steepest drop in four years.

“Foreign investors are hesitant as they hold on to their capital, re-analyze global risk factors, and are on a ‘wait and-see’ mode on the ongoing developments of the global economy,” said economist Reiniella Matt in the same report.

The United States remained among the significant sources of foreign investments in the Philippines last year, according to Bangko Sentral ng Pilipinas. From January to October 2024, the country recorded an inflow of $7.7 billion or over P443 billion from its longstanding ally.

Pres. Bongbong Marcos Jr. has repeatedly touted his administration for securing foreign pledges worth $14.2 billion or over P820 billion in abroad trips in the past 16 months.

Marcos also signed Republic Act No. 12066 to entice foreign investors by lowering income tax rates and granting more fiscal incentives to qualified companies.

“The Philippine economy is not only growing, but I should say it is also thriving. In fact, we are one of the fastest-growing economies in the world, and we are committed to fostering and continuing this momentum,” said Marcos last May.

Still, the government failed to meet its economic growth target of 6% to 6.5% in 2024 after only growing by 5.6%.

Erece stressed that the decreased foreign investments will affect the Philippines’ growth trajectory since it leads to negative economic sentiment.

“Investors will now be concerned of a slow growth in consumption, and adding global uncertainty to the mix, will make them even more hesitant to invest in the country,” added Erece.

(PM)

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