MANILA, Philippines, Nov. 24, 2020 /PRNewswire/ — The Philippine Board of Investments (BOI) launches today, 24 November 2020, a new international investment promotion brand and campaign, «Make It Happen in the Philippines» which aims to attract investment to the Philippines by highlighting its potential as an ideal business destination in Asia.
The campaign reinforces the country’s highly skilled and resilient human resource and «make-it-work» mindset, underlining its strength and adaptability even in times of adversity. The «Make It Happen» campaign was developed in partnership with the UK Government’s Investment Promotion Programme.
The World Bank and International Monetary Fund forecast a V-shaped recovery for the Philippine economy, rebounding by as much as 6.8% in 2021. The country’s highly skilled and English-speaking workforce, abundant natural resources, strong domestic consumer market and strategic location in Southeast Asia emphasize its key competitive advantages. The Philippines is focusing on rapid industrialization and infrastructure development as vital economic drivers, presenting many opportunities for foreign participation.
Philippine growth has been driven by its capabilities in electronics manufacturing, automotive, aerospace, IT, and health. It has also enticed global businesses such as Siemens AG, Dyson, Mitsubishi, and Lufthansa Technik, to establish a local base.
Data released by the Central Bank of the Philippines showed that even with the health crisis, foreign direct investment (FDI) figures showed an increasing trajectory, growing month-on-month versus last year. FDI growth in May 2020 grew to US$402 million to 39.10% from only US$289 million in May 2019. For June 2020, FDI figures grew 7.13% to US$481 million from US$449 million. A significant growth of 35% was also recorded in July 2020 to US$797 million from only US$590 million in the same month last year. Philippine FDIs are projected to reach US$7.0 billion in 2021.
The «Make It Happen in the Philippines» brand will be brought to life with a suite of bespoke digital, social media, event, and print marketing collaterals. A new multilingual digital investment platform – www.philippines.business – has already been launched, making it easier for investors to connect with BOI’s investment specialists.
The Philippine Trade Minister and BOI Chairman Ramon M. Lopez said: «Against a difficult global economic and business backdrop, the new ‘Make It Happen in the Philippines’ campaign highlights our continued strength as a foreign investment destination and our resilience in the face of unprecedented challenges.
«The Philippines continues to be a vital place to do business in the world and is recognized as one of Asia’s leading economies and fastest-growing emerging markets.
«With the current health crisis affecting the world economy, we have acted swiftly with a range of incentives and measures to maintain ease of doing business and mitigate the impact of Covid-19 for businesses. A ‘roll-up-your-sleeves’ and ‘make-it-work’ mindset, as well as a service-orientated business ethic position the Philippines well for the future,» Minister Lopez said.
Meanwhile, the UK Government’s Ambassador to the Philippines Daniel Pruce stated: «The Philippines is an important economic partner for the UK. The launch of the Philippines’ first sustained multi-sector and multi-market brand is designed to drive FDI inflows and reinforces the significance of international partnership and cooperation in helping economies to grow and people to thrive.
«This iconic new investment brand highlights that the Philippines is a great place to do business,» Ambassador Pruce said. «The UK Government is delighted to be working with BOI on this campaign as it demonstrates the close economic relationship between the UK and the Philippines,» the British diplomat added.
Major foreign investors have also shared their insights and experiences in doing business in the Philippines, highlighting how the government’s support and trademark «Make It Happen» Filipino mindset have made their successes possible, even amidst an unprecedented pandemic.
The campaign was tested in international markets, resonating positively among investors in China, the US, and the UK. The new investment brand is poised to become the Philippines’ primary strategy to attract FDI inflows.
The brand campaign was formally unveiled today at a virtual event for the international business community hosted by Philippine Trade Minister Lopez, BOI Managing Head Ceferino Rodolfo, and British Ambassador to the Philippines Daniel Pruce.
For more information on «Make It Happen In The Philippines» initiatives and prospects, investors are invited to visit its digital platform and speak to the Board of Investments at www.philippines.business.
About the Philippine Board of Investments:
The Philippine Board of Investments (BOI), an attached agency of the Department of Trade and Industry (DTI), is the lead government agency responsible for the promotion of investments in the Philippines. Taking the lead in the promotion of investments, BOI assists Filipino and foreign investors to venture and prosper in desirable areas of economic activities. The BOI is a one-stop shop for doing business in the Philippines. To find out more about investment opportunities in the Philippines, visit www.philippines.business
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SOURCE Philippines Board of Investments