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Attract more FDI: Sen. Win Gatchalian says the government should create an investment climate that will attract more Foreign Direct Investment (FDI) in the Philippines. During Thursday’s hearing, May 9, 2024 of the Committee on Ways and Means, Gatchalian presented data from the World Investment Report 2023, United Nations Conference on Trade and Development (UNCTAD), showing that the Philippine has been left behind among the Southeast Asian nations from 2010 to 2022 in terms of FDI. Based on comparative FDI stock level of major Southeast Asia economies, Singapore is at the top, followed by Thailand, Vietnam, Indonesia, Malaysia, and Philippines while the comparative FDI stock level growth, Singapore still at the top with 21 growth rate, followed by Vietnam (14.3), Indonesia (10.5), Thailand (9.9), Philippines (8.2), and Malaysia (3.8). Gatchalian said the average FDI stock level growth rate is 11.4 and the Philippines is far below as compared to other Southeast Asian countries. “The growth of FDI coming in to the country is far below compared to our ASEAN neighbor countries. There so much things to do in order to attract FDI. These data ended in 2022, so hopefully, from 2022 until now, we will see much greater improvement in terms of FDI growth and in terms of hard investment coming in,” Gatchalian said. (Bibo Nueva España/Senate PRIB)