Pasay city: The Association of Southeast Asian Nations (ASEAN) is looking to attract high-value and innovation-generating investments, shifting focus beyond simply increasing investment volumes. Speaking after the conclusion of the 29th ASEAN Investments Area Council Ministers Meeting, Trade Undersecretary Ceferino Rodolfo emphasized the need for ASEAN to attract investments that generate innovation, quality jobs, strengthen industrial capabilities, and contribute to sustainable development.
According to Philippines News Agency, the meeting, held on the sidelines of the 58th ASEAN Economic Ministers' Meeting, discussed the implementation of the ASEAN Regional Investment Promotion Action Plan 2025-2030. Priority sectors identified include biofuels, medical devices, solar photovoltaic equipment, carbon capture and storage, veterinary healthcare, sustainable building materials, and smart grid development.
Rodolfo highlighted that ASEAN is committed to regional cooperation and determined to compete successfully in future industries while ensuring inclusive and sustainable economic progress. The ministers also noted the ASEAN Investment Report 2026, which projected ASEAN's foreign direct investment (FDI) to reach a historic USD243.9 billion in 2025, with intra-ASEAN investments strengthening to almost USD40 billion, underscoring deepening economic linkages among member states.
Trade Secretary Cristina Roque urged ASEAN member states to seize the momentum as businesses reassess investment destinations amid global uncertainties. She highlighted ASEAN's status as an economic powerhouse with young, tech-savvy demographics, market openness, and unmatched growth potential. As ASEAN chair, Roque assured that the Philippines would work to solidify the bloc's position as a leading investment destination.
The meeting also included engagements with the United Nations Conference on Trade and Development (UNCTAD), UN Economic and Social Commission for Asia and the Pacific, and the Organisation for Economic Co-operation and Development, focusing on initiatives to boost ASEAN's competitiveness in attracting FDI.
