2 days ago
Philippines Invites Bahraini Investment
TDT | Manama
A call to deepen economic ties between Bahrain and the Philippines is gaining momentum, with the Southeast Asian nation extending a targeted invitation to Bahraini investors to explore a range of high-value opportunities across tourism, renewable energy, and infrastructure.
Yesterday, as the Philippines marked its 127th Independence Day, its Trade and Investment Centre in Riyadh reaffirmed the country's commitment to building strategic global partnerships. In an article penned by Philippine Commercial Attaché Vince Lorenzo T. Liwanag, Bahrain was specifically highlighted as a trusted ally due to its long-standing Filipino community of over 55,000 residents.
According to Liwanag, this cultural presence forms a 'trusted bilateral network' and provides a ready-made bridge of familiarity and trust for Bahraini entrepreneurs and entities exploring business in the Philippines.
The article stressed that Bahrain-based conglomerates, sovereign funds, and visionary investors are well-positioned to partner in sectors where the Philippines is actively seeking foreign participation.
The Philippines posted a robust GDP growth of 5.6 percent in 2024, outperforming many regional peers.
This growth was driven by a modernised incentive regime under the CREATE MORE Act and Executive Order 18, which facilitates fast-tracked approvals of high-impact investments through 'Green Lanes'.
Tourism and halal gap
Tourism is among the key sectors targeted for Gulf investment, with the country receiving 5.9 million tourists in 2024 and anticipating a need for 450,000 new hotel room keys by 2028.
Liwanag noted a substantial market gap in halal-friendly hotels and restaurants, especially in popular destinations such as Cebu, Palawan, and Siargao.
Medical tourism and retirement resorts are also flagged as growth areas, leveraging the Philippines' strong healthcare service sector and appeal among older travellers.
Renewables and infrastructure
Another priority area is renewable energy. The Philippines has become the second-most attractive emerging market for clean energy investment, according to BloombergNEF's Climatescope 2024.
With more than $24 billion committed in 2024 alone, renewable energy accounted for 85 percent of the country's Board of Investments approvals.
The country is also rich in green minerals like nickel, cobalt, and copper, with ambitions to locally process these for use in electric vehicles, energy storage, and clean-tech supply chains.
Infrastructure offers further prospects. The government has outlined 173 flagship projects under its 'Build Better More' programme, worth $45 billion. Opportunities are open for Bahraini companies with engineering and construction capabilities to enter through Public-Private Partnerships or direct investment.
