MANILA, PHILIPPINES – During the 23rd International CEO Conference, Ines Lam, the associate director of HSBC Asia Economics, said that the Philippines should bank more on exporting services like business process outsourcing (BPO) to position itself well in the global market. Only then can the country gain more foreign direct investments (FDI).
It must be noted that the Philippines ranked 6th in Southeast Asia for FDIs, according to the 2025 World Investment Report. While the numbers show that there’s been a significant increase in FDI inflows—from US$6.452B in 2023 to US$8.938B in 2024, resulting in a 38.5% increase—the country can do more to position itself more favorably for foreign investment.
The Step to Take
According to Lam, “…the Philippines’ unique value proposition is its people and soft skills.” It’s important for the country not to lose sight of this advantage.
She suggested that the government develop the workforce, which is key to expanding services exports. It can offer programs to increase the Filipino’s English proficiency, improve the quality of education, and invest in hands-on work to build their technical expertise.
What This Means for the Future
The services exports rely on human capital, an aspect that Filipinos excel at. So, through a strong education and skills development, the Philippines can strengthen its services sector, particularly the IT-BPM. As a result, the country can attain a sustainable competitive position across Southeast Asia and worldwide.
With this strong market position, the country can eventually secure partnerships and investments with global firms.
