The Philippines Government is opening its economy to foreign investment with a focus on sectors including resources, infrastructure, and the green energy transition.
The Philippines is one of the fastest-growing economies in Southeast Asia, ranking first in the region in 2023.
GDP grew at 5.6% in 2024, attributed to increases in household and government expenditure, imports and exports, and the industrial and services sectors.
The Philippines Government has set a target of 6-8% annual growth from 2025 to 2028, supported by continued infrastructure investments, an enhanced business environment and increased national competitiveness.
An expanding consumer base, coupled with rising disposable incomes and a growing middle class, are creating opportunities for Australian investors.
Invested: The Philippines to 2040 – Opportunities and Pathways for Australian Investors outlines the strength of and outlook for its economy, and describes recent reforms by the Philippines Government to open their economy to foreign investment and improve the ease of doing business.
It also highlights key sectors – resources, infrastructure, green energy transition, education and skills, digital economy and agriculture and food – important to the Philippines’ economic transformation and in which there are real opportunities for Australian investors.
The document builds on Invested: Australia’s Southeast Asia Economic Strategy to 2040, by Special Envoy for Southeast Asia Nicholas Moore AO, and ensures Australia and Southeast Asia are jointly positioned to maximise the potential of our economic ties, from now until 2040 and beyond.
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Images: Austrade
