Overseas Filipinos are looking beyond remittances and are ready to channel their resources into businesses, startups, and major development projects in the Philippines, but concerns over trust and ease of doing business remain a major hurdle.

Leaders of Filipino communities abroad said the diaspora can become a stronger force for economic growth by providing capital, expertise, and international networks that can help create jobs and support key industries.

At the recent convention organized by the Commission on Filipinos Overseas in Pasay City, representatives of overseas Filipino groups said non-resident Filipinos (NRFs), including immigrants, naturalized citizens, and dual citizens, are willing to invest in the country if given a more transparent and investor-friendly environment.        

Prepared to support various sectors

Mariela Fletcher, national chair of the US-based National Federation of Filipino American Associations, said overseas Filipinos are prepared to support sectors such as healthcare, senior care, technology, digital economy, tourism, hospitality, and social enterprises.

“The next evolution of remittances is investment, entrepreneurship, and job creation,” Fletcher said. “Diaspora resources can help grow businesses and strengthen vital sectors, from healthcare and tourism to technology, education and renewable energy. The goal is not only to send money home; the goal is to reach lasting prosperity.”

Fletcher said the economic contribution of overseas Filipinos should move beyond household support toward investments that can generate sustainable growth and employment opportunities.

Almee Alado-Blake, chair of the ASEAN-UK Business Forum, said the diaspora’s economic strength comes from three major assets: investment capital, global expertise, and international connections that can help Filipino businesses reach wider markets.

She noted that while remittances provide immediate support to families, mobilizing the diaspora’s resources for investments can create long-term economic benefits.

Investor confidence remains critical

“However, diaspora leaders said improving investor confidence remains critical before more overseas Filipinos commit their resources to the country,” she said.

Panelists, including Roxanne Sarthou, president of the Filipino Communities Council of Australia Inc., cited concerns over bureaucratic delays, corruption issues, limited investment information, and challenges in setting up businesses as factors discouraging overseas Filipino investors.

Strengthen transparency

They said the government must strengthen transparency, simplify investment procedures, and create clearer pathways for diaspora participation through stronger partnerships between the public sector, businesses, and overseas Filipino communities.

“Many Filipinos want to retire here, but they have trust issues,” Sarthou said.

Fletcher added that the government must provide stronger “signals” that will encourage overseas Filipino entrepreneurs, employers, retirees, and investors to turn their interest in the Philippines into actual investments.