Doing Business In..._2026

PHILIPPINES Trends and Developments Contributed by: Patricia A. O. Bunye, Aida Araceli G. Roxas-Rivera and Christianne Grace F. Salonga, Cruz Marcelo & Tenefrancia

attract substantial foreign participation, allowing glob - al investors to pursue opportunities that were previ - ously unavailable. Transport infrastructure remains a priority area. Invest - ments in airports, seaports, rail systems, toll roads and logistics networks continue to attract interest from infrastructure funds, strategic operators and institutional investors. These projects play a critical role in addressing historical connectivity constraints while supporting domestic commerce and regional integration. Global supply chain diversification strategies have further enhanced the Philippines’ attractiveness as an investment destination. As multinational compa - nies continue to reassess production and distribution networks in response to geopolitical developments, supply chain resilience concerns and evolving trade dynamics, ASEAN jurisdictions have emerged as important beneficiaries of new investment flows. While countries such as Vietnam and Indonesia remain major recipients of manufacturing investment, the Philippines is increasingly positioning itself as a complementary location for electronics, logistics, technology-enabled services, and regional support operations. The expansion of logistics infrastructure has become particularly important as global supply chains evolve. Manufacturers and distributors increasingly require integrated transportation, warehousing, cold-chain and distribution capabilities. The Philippines’ growing role within regional supply chains has consequently increased demand for logistics investments that sup - port both domestic consumption and export-oriented production. Energy security and energy transition have likewise become central themes in the investment landscape. The Philippines faces the dual challenge of meeting growing electricity demand while reducing depend - ence on imported fuel and enhancing sustainability. Renewable energy development therefore occupies a central position within the country’s long-term eco - nomic strategy.

The opening of the renewable energy sector to full foreign ownership has significantly increased inves - tor interest in utility-scale solar, onshore and offshore wind, hydroelectric and biomass projects. Interna - tional developers and infrastructure funds are active - ly evaluating opportunities across the country as demand for clean energy continues to rise. Several factors support this momentum. First, mul - tinational corporations increasingly seek access to renewable power as part of broader decarbonisation commitments and environmental, social and govern - ance (ESG) objectives. Second, growing electricity consumption driven by industrial expansion, urbani - sation and digital infrastructure creates substantial demand for new generation capacity. Third, govern - ment policy continues to prioritise renewable energy deployment as a means of enhancing energy security and reducing exposure to external supply shocks. Infrastructure and energy investment are increasingly interconnected. Large-scale industrial developments, technology parks, manufacturing facilities and data centres require reliable power and transport infra - structure. As a result, investors frequently evaluate opportunities across these sectors as part of inte - grated development strategies rather than standalone projects. The convergence of infrastructure modernisation and energy transition has therefore created a broad ecosystem of investment opportunities extending well beyond traditional public works projects. For many investors, these sectors represent the clearest manifestation of the Philippines’ broader liberalisation agenda. The growth of technology-enabled and digital businesses The rapid growth of the digital economy represents another defining feature of the Philippine investment landscape. Over the past decade, digital adoption has accelerated across virtually every sector of the econ - omy. Consumers increasingly rely on digital platforms for payments, commerce, transportation, entertain - ment and financial services. Businesses have similarly embraced digital tools to improve efficiency, expand market reach and support innovation. This transfor -

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