The campaign highlights the country’s highly skilled and resilient human resource that is elevated by a “make-it-work” mindset that showcases strength and adaptability, even in times of adversity. The “Make It Happen” campaign was developed in partnership with the UK Government’s Investment Promotion Programme.
The World Bank and International Monetary Fund forecast a V-shaped recovery for the Philippine economy, rebounding by as much as 6.8% in 2021. The country’s highly skilled and English-speaking workforce, abundant natural resources, strong domestic consumer market, and strategic location in Southeast Asia underline its key competitive advantages. The Philippines is focusing on rapid industrialization and infrastructure development as vital economic drivers, presenting many opportunities for foreign participation.
Philippine growth has been driven by its capabilities in electronics manufacturing, automotive, aerospace, IT, and health. It has also enticed global businesses such as Siemens AG, Dyson, Mitsubishi, and Lufthansa Technik, to establish a local base.
Data released by the Central Bank of the Philippines showed that even with the health crisis, foreign direct investments (FDI) figures showed an increasing trajectory, growing month-on-month this year as against last year. FDI growth in May of this year grew to US$402 million to 39.10% from only US$289 million in the same month last year. For June 2020, FDI figures grew 7.13% to US$481 million from US$449 million. A significant growth of 35% was also recorded in July 2020 to US$797 million from only US$590 million in the same month last year. Philippine FDI is projected to reach $7.0 billion in 2021.
Promoting the market’s resilience, adaptability, and positive ‘make-it-work’ mindset, the “Make It Happen in the Philippines” brand will be brought to life with a suite of bespoke digital, social media, event, and print marketing collaterals. The campaign has already launched its new multilingual digital investment platform– www.philippines.business – making it easier for investors to connect with BOI’s investment specialists.
The Philippine Trade Minister and BOI Chairman Ramon M. Lopez said: “Against a difficult global economic and business backdrop, the new ‘Make It Happen in the Philippines’ campaign highlights our continued strength as a foreign investment destination and our resilience in the face of unprecedented challenges.
“The Philippines continues to be a vital place to do business in the world and is recognized as one of Asia’s leading economies and fastest-growing emerging markets. With the current health crisis affecting the world economy, we have acted swiftly with a range of incentives and measures to maintain ease of doing business and mitigate the impact of Covid-19 for businesses. A ‘roll-up-your-sleeves’ and ‘make-it-work’ mindset, as well as a service-orientated business ethic position the Philippines well for the future,” Minister Lopez said.
“We are excited to launch our new campaign, which is a partnership between the Philippine and UK government that has brought together the expertise of international communication experts from both parts of the world,” Minister Lopez added.
Meanwhile, the UK Government’s Ambassador to the Philippines Daniel Pruce stated: “The Philippines is an important economic partner for the UK. The launch of the Philippines’ first sustained multi-sector and multi-market brand is designed to drive FDI inflows. It underlines the significance of international partnership and cooperation in helping economies to grow and people to thrive.”
“This iconic new investment brand highlights that the Philippines is a great place to do business” Ambassador Pruce said. “The UK Government is delighted to be working with BOI on this campaign as it demonstrates the close economic relationship between the UK and the Philippines,” the British diplomat added.
Major foreign investors have also joined the discussion and shared their insights and experiences in doing business in the Philippines, highlighting how the government’s support and trademark “Make It Happen” Filipino mindset have made their successes possible, even amidst the unprecedented pandemic situation.
The campaign was tested in international markets and resonated positively among investors in China, the US, and the UK. With this reception, the new investment brand is poised to become the Philippines’ primary strategy to attract foreign direct investment.
The brand campaign was formally unveiled at a virtual event for the international business community hosted by Minister Lopez, Trade Vice Minister and BOI Managing Head Ceferino Rodolfo, and British Ambassador to the Philippines Daniel Pruce.
For more information on the “Make It Happen In The Philippines” activities and prospects in the Philippines, investors are invited to visit its digital platform and speak to the Board of Investments at www.philippines.business.