Overseas Filipinos ready to invest, but barriers remain

Overseas Filipinos ready to invest, but barriers remain | Daily Tribune

Overseas Filipinos are ready to move beyond remittances and become long-term partners in Philippine economic growth, but concerns over bureaucracy, transparency and ease of doing business remain major barriers to turning their interest into actual investments, diaspora leaders said.

At a recent convention organized by the Commission on Filipinos Overseas in Pasay City, representatives of Filipino communities abroad said overseas Filipinos — including immigrants, naturalized citizens, and dual citizens — are looking for opportunities to contribute through investments, business ventures, and partnerships that can create jobs and support national development.

Mariela Fletcher, national chair of the US-based National Federation of Filipino American Associations, said the future of diaspora engagement should focus on building businesses and industries rather than relying solely on money sent to families back home.

“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 overseas Filipino investors are particularly interested in sectors such as healthcare, senior care, technology, the digital economy, tourism, hospitality and social enterprises.

Almee Alado-Blake, chair of the ASEAN-UK Business Forum, said the economic potential of the Filipino diaspora goes beyond financial capital, pointing to three key assets: investment funds, global expertise and international networks that can connect Philippine businesses to wider markets.

She noted that while remittances continue to provide critical support for Filipino households, investments can create longer-term economic benefits by generating businesses, employment and innovation.

“The compounding impact that benefits generations,” Alado-Blake said, could come from effectively harnessing the capital, expertise, and commitment of overseas Filipinos.

She urged the government to strengthen pathways for diaspora investments in areas such as sustainable infrastructure, rural development, renewable energy, blue economy initiatives, digital industries, and support for small and medium enterprises.

However, diaspora leaders said attracting overseas Filipino investments requires addressing long-standing concerns that have discouraged many from putting their money into Philippine ventures.

Panelists, including Roxanne Sarthou, president of the Filipino Communities Council of Australia Inc., cited complicated government processes, corruption concerns, limited information, and difficulties in navigating business regulations as challenges affecting investor confidence.

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

Fletcher added that the government must provide stronger “signals” to convince overseas Filipino entrepreneurs, employers, retirees, and investors that the Philippines is ready to welcome their participation.

The panelists emphasized that building confidence among the diaspora will require clearer investment policies, more transparent processes, streamlined regulations and stronger government-private sector partnerships.

With millions of Filipinos living and working abroad, diaspora leaders said the opportunity lies in transforming overseas connections into a source of capital, innovation, and job creation that can contribute to a more resilient Philippine economy.