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The Republic of the Philippines celebrates the 127th anniversary of the proclamation of its Independence today. Known in the Philippines as ‘Araw ng Kasarinlan’ (or ‘Day of Freedom’), this day commemorates the Philippine Declaration of Independence from Spain on June 12, 1898. The day serves as a reminder of the bravery, patriotism and sacrifices of Filipino heroes who fought for sovereignty and self-determination.
TODAY, the Philippines is celebrating the country’s 127th anniversary of the proclamation of its independence.
The country looks ahead to a future shaped by opportunity, innovation and meaningful collaboration.
As the Philippines commemorates its independence, it also champions an open invitation to global investors and partners.
A reform-driven investment climate:
The Philippines remained strong last year with a full-year gross domestic product (GDP) growth rate of 5.6 per cent, outpacing major economies in Asia.
Part of the optimism driving economic growth are the modernised incentive regimes through the CREATE MORE Act, offering longer, tailor-fit fiscal perks to strategic investors, and by Executive Order 18, which created ‘Green Lanes’ that facilitate faster implementation of high-impact projects.
Last year, the Philippines achieved record-high approved investments, highlighting the global interest in the opportunities that abound in the country.
Across the Gulf, sovereign wealth funds, conglomerates and visionary entrepreneurs are exploring portfolios toward emerging opportunities in Southeast Asia. The Philippines is an attractive location as an archipelago of 113 million youthful, English-speaking consumers, and as Association of Southeast Asian Nations’ (Asean’s) fastest-growing digital market.
Last year, the Philippines’ top export were electronic products such as semiconductors amounting to $39 billion, or 53pc of total exports. Aside from electronics, investment reforms are bringing into the Philippines investments in electric vehicle ecosystems, data centres, telecommunications and high-tech agriculture.
The attractiveness of the investment climate in the Philippines is reaffirmed by investment-grade credit ratings from global credit ratings firms such as Fitch, Moody’s and Standard & Poor’s.
Bahrain hosts more than 55,000 Filipinos, providing a cultural bridge that ensures investors begin with a cultural familiarity and a trusted bilateral network.
Looking ahead, the Philippines’ Department of Trade and Industry, in collaboration with the Board of Investments, is unwavering in its efforts to ‘Make it Happen in the Philippines’. The Philippines invites our Bahraini partners to build, grow and succeed with the Philippines.
High-value opportunities for Bahraini investors and expertise:
1. Halal-friendly hospitality and tourism:
Tourism is a top-priority pillar for the Philippines. Last year, the country welcomed 5.9 million tourists to the tropical climate that is filled with abundant natural resources and filled with unique destinations and experiences.
Tourists enjoyed warm crystal-clear waters and white sand beaches, thermal hot springs, cool highlands and heritage areas. To meet the rising tourist arrivals, the Philippines’ Department of Tourism noted that 450,000 room keys must be added by 2028.
A key investment opportunity are halal hotel and resorts developments as well as meetings, incentives, conferences and exhibition (Mice) establishments to cater to the growing Muslim tourist market. These offer opportunities for investors to be part of an already thriving tourist destination where there is a gap in halal hotels and restaurants in areas such as the beaches of Cebu and Palawan, and emerging destinations like Siargao.
Aside from hotels and resorts, there has also been rising interest in medical tourism and retirement tourism facilities given the strength of the Philippine healthcare services sector.
2. Green investments – renewable energy and green minerals:
The Philippines has emerged as a rising renewable-energy investment destination with its abundant natural resources, policy clarity and commercial incentives, which investors can turn into profitable projects.
Last year, renewable energy investments accounted for 85pc of all Board of Investments approvals, representing more than $24 billion in committed capital.
In achieving sustainable development, clean power is only part of the story. The Philippines hosts major reserves of nickel, cobalt and copper, which are critical inputs for efficient transmission, electric vehicles and energy storage systems.
3. Infrastructure investments:
The Philippines has 173 flagship infrastructure projects under the “Build Better More” programme amounting to $45bn. Majority of these infrastructure flagship projects are in physical connectivity (i.e. airports, highways) and water resources, while other projects include digital connectivity, health, power and energy, agriculture and other infrastructure.
These projects are open for participation by construction companies that can bring in their ‘state-of-the-art’ engineering, procurement and construction (EPC) capability to the Philippines or public private partnerships (PPP) targeted toward financing, designing, implementing and operating infrastructure facilities and services.
These investment opportunities showcase to investors a fast-growing economy that invites partners such as Bahrain to ‘Make it Happen in the Philippines’.
(The author is commercial attaché at the Philippine Trade and Investment Centre, Riyadh)
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