Asean shoots for quality investments
The Association of Southeast Asian Nations (ASEAN) is targeting to attract higher quality investments to promote job creation, after the region received its highest level of foreign direct investments (FDIs) last year.
Manila, Philippines — The Association of Southeast Asian Nations (ASEAN) aims to draw higher quality investments to spur job creation, following the region's record-breaking foreign direct investments (FDIs) last year. During a press conference, Trade Undersecretary Ceferino Rodolfo outlined that enhancing the caliber of investments and maintaining ASEAN's competitiveness in green and digital transitions were among the topics discussed by economic ministers at the recent ASEAN Investment Area Council meeting.
Rodolfo emphasized the transition from merely boosting investment volumes to luring investments that foster innovation, quality employment, fortify industrial prowess, and foster sustainable development. Despite global uncertainties, geopolitical tensions, and trade disruptions, Rodolfo affirmed that ASEAN continues to be an attractive investment destination.
In 2023, ASEAN received a whopping $243.9 billion in FDIs, marking the region's highest-ever level, and the fifth consecutive year of surpassing the $200 billion annual FDI threshold. Rodolfo reiterated that ASEAN's stance remains welcoming for business, dedicated to regional collaboration, and ready to compete successfully in future industries.
In the Philippines, projects approved are projected to generate over 153,000 jobs, while the projects approved in the first six months of 2026 are anticipated to add nearly 54,000 jobs. Under the green lane initiative, the government has certified 239 projects worth P6.32 trillion since its inception. Once completed, these projects under the green lane program are projected to provide employment to approximately 421,000 individuals.
Written by urgent.news from Philippine Star Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
