SG remains Phl’s top ASEAN investor — BOI

The Board of Investments (BoI) reported that investors from Singapore continue to do business in the country, bringing in more than P246 billion worth of investments among ASEAN peers.

In a report, the BoI, the premier investment promotion agency of the Department of Trade and Industry, said Singapore was the country’s top ASEAN source of investment pledges to the Philippines, contributing P246 billion in approved projects since 2020, followed by Thailand (P4.34 billion), Indonesia (P12.27 billion) and Malaysia (P1.7 billion).

These investments have primarily flowed into Information and Communication (P169.59 billion) and the Power sector, including renewable energy (P74.20 billion). Other sectors that drew ASEAN capital include 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.

In total, the BoI disclosed that its approved investments from the said ASEAN countries reached P264 billion since 2020.

From January to July 2025 alone, ASEAN countries contributed P58.07 billion worth of investments into the total investments pipeline of the BoI.

Trade Secretary and BoI Chair Cristina Roque stressed that the agency remains focused on advancing President Ferdinand R. Marcos Jr.’s priorities by strengthening the development of micro, small, and medium enterprises and deepening investment relationships with ASEAN member countries, particularly in the digital economy sector.

“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,” Secretary Roque added.

“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,” BoI executive director Evariste Cagatan, for her part, said.

In a bid to strengthen investment ties with fellow ASEAN member states, President Marcos has actively pursued bilateral cooperation on trade and investments. Last year, he made a state visit to Vietnam, and in May 2025, he attended the 46th ASEAN Summit in Kuala Lumpur, Malaysia, where he held bilateral talks with various ASEAN leaders.