The Philippines is banking on trade missions to other countries as the Marcos Jr. administration seeks to surpass the record-high of ₱1.9 trillion in investment approvals last year, according to a top economic official.

Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) Secretary Frederick Go said the government will leverage an international roadshow to entice potential investors into the country.

These missions, he said, aim to introduce to investors the incentives embodied under the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act. 

The CREATE MORE Act, enacted last year, grants registered businesses access to income tax benefits such as income tax holiday (ITH) and special corporate income tax (CIT).

CREATE MORE likewise simplifies processes for businesses applying for fiscal support, further attracting both local and foreign investments.

Investment for projects registered with the country’s investment promotion agencies (IPAs) rose 29 percent to ₱1.9 trillion in 2024 from ₱1.47 trillion in the previous year.

The renewable sector secured the bulk of the investments with ₱1.3 trillion, followed by manufacturing, real estate, transportation, and storage.

Domestic investments reached ₱1.35 trillion last year, while foreign investments accounted for ₱544 billion.

In order to attract more foreign investments, Go said the government is already planning trade missions abroad, with the help of IPAs.

“This year, we hope to get back on track on our roadshows since we’re not able to in the first half,” Go said on the sidelines of the Anvil Business Summit 2025.

During his speech before members of the Anvil Business Club, Go noted that the United States’ (US) imposition of the so-called reciprocal tariffs delayed the government’s plan to conduct trade missions.

However, since the legality of the tariffs has now been put in question by the US Supreme Court, he said that “the dust is more or less settled” to restart the plan.

With the ₱1.9 trillion last year now considered “the benchmark that we must surpass,” Go urged Filipino-Chinese leaders to continue investing in the country.

“We need your actionable ideas, your suggestions on how, what else can we do to help improve the ease of doing business and the predictability of doing business and to reduce the cost of doing business,” he added.

For his part, Anvil Business Club President Christopher Yae noted that he will back the government’s efforts to strengthen the country’s investment promotion activities.

Yae, however, posited that there should be more focus on helping businesses grow instead of merely regulating them.

“When we look at the government, it’s more on regulations. I think if there would be more support from the government—I’m not saying there’s none—if there could be more, I think that would be a lot better,” Yae told reporters.

He said the government could consider crafting an industry-specific master plan that will outline long-term policies for achieving growth.

“What we’re doing is macro, overall. But if there would be, for manufacturing, for agriculture, for construction, that would be very welcome,” said Yae.