The Duterte administration is leaving behind P500-billion worth of investment leads and pledges its successor could pursue and realize in the next 18 months.
Trade Secretary Ramon Lopez told reporters these investments are in various stages of preparation, site identification, company registration, application in the corresponding investment promotion agencies (IPAs).
Lopez said these investments in a wide range of sectors will be driven by the robust post pandemic economic recovery and growth posted by the country as well as the economic reforms undertake on liberalization and tax reforms.
Lopez also cited the huge 110 million market size and the 49-million pool of young and competent workforce as a key attraction.
“We expect the market-orientation liberal policies to continue in the next administration,” Lopez said.
He also noted how the IPAs and other agencies have been facilitating investments through the Ease of Doing Business Act.
Lopez also cited the benefits to the country of being part of free trade agreements having zero tariff privileges under the Generalized System of Preferences.
In manufacturing, Lopez cited the return of some international sports and apparel brands as well as the entry of investments in the production of personal protective equipment using non woven textiles.
In electronics, he named Minebea, Brothers printers and Videoton among those that are setting up shop or expanding in the Philippines.
Lopez identified projects in R&D centers and drones systems.
Lopez also expects investments in electronic vehicle (EV) ecosystems and EV infrastructure, i.e., charging stations, battery technologies/battery energy storage systems as well as green metals processing such as nickel into nickel hydroxide and nickel zinc batteries for EV and other applications.
In other industries, the DTI anticipates investments in: automotive parts and expansion of existing players; modern cement plants; integrated Iron and steel, marine shipbuilding/ship repair, modern agribusiness projects and integrated dairy operations According to Lopez, digital infrastructure will be big in the next 18 months with the establishment of the following: digital hubs to host tech and IT companies; integrated telecom infra- fiber optics; undersea broadband subsea cables, broadband and telco towers.
Satellite services will also soon be available through
SpaceX’s low-earth orbit satellite-based broadband internet-gateways.
Lopez said the Philippines will continue to attract data centers for hyperscalers with capacity ranging from 50-200 megawatts as well as their corresponding renewable energy projects.
In services, the information technology- business process management will continue to lead the sector particularly for artificial intelligence- enabled, non- voice back office support, legal, finance and accounting, health information management, animation and IT design and engineering
In logistics, Lopez cited investments in marine services and transshipment operations.
He specified FedEx, which will be undertaking an expansion. – Irma Isip
