The Philippines’ latest credit rating upgrade will help attract more foreign investors in the country, according to the Philippine Economic Zone Authority .
“Following the strategic investment generation and FDI collaboration plans of our government spearheaded by President Ferdinand Marcos Jr., PEZA remains bullish in enhancing and strengthening our efforts even more to secure partnerships from a large number of investors in different industries for the continuous boost in the Philippines’ economic growth and progress,” PEZA director-general Tereso Panga said.
The PSA said investment commitments amounted to P309 billion in the first quarter and P717 billion in the second quarter of 2024. This is now the country’s second ‘A’- rating from Japanese debt watchers. The Philippines received ‘A-‘ score from Japan Credit Rating Agency in 2020.