The Philippines may already have the attention of international investors, but converting that interest into projects they are ready to finance is becoming the bigger challenge as global capital grows more selective, HSBC Philippines said.
At its third annual Flagship Business Summit in Manila on August 18, HSBC brought together around 500 business leaders, government officials, clients and other stakeholders to discuss investment opportunities that could move forward over the next six to 12 months.
The bank said geopolitical tensions and market volatility have made international capital more selective, increasing pressure on countries competing for investment to demonstrate that projects can move quickly from announcement to execution.
Investor interest is only the first step
“Global multinationals and international investors are asking how quickly opportunities in the Philippines can turn into projects they are able to finance,” HSBC Managing Director and Head of Banking, International Markets, Asia Priya Kini said.
HSBC Managing Director and Head of Banking, International Markets, Asia Priya Kini (IMAGE CREDIT: HSBC Singapore)
She said HSBC sees its role as connecting international investors with Philippine opportunities and the people capable of moving them forward through the bank’s regional and international network.
Recent investment figures suggest there is still appetite for the country.
The Philippine Statistics Authority reported ₱42.64 billion in approved foreign investments during the first quarter of 2026, up 52.3% from ₱27.99 billion in the same period last year.
But approved investments represent commitments rather than money that has necessarily entered the economy. The Bangko Sentral ng Pilipinas distinguishes these figures from foreign direct investment, noting that approved commitments may not ultimately be realized in full.
BSP’s latest available figures showed actual FDI net inflows totaling US$2.2 billion from January to May 2026.
That distinction highlights the challenge HSBC is pointing to: attracting investor interest is not enough if projects struggle to reach the stage where capital can actually be deployed.
Execution becomes part of the investment pitch
Discussions at the HSBC summit focused on cooperation between government and the private sector, particularly through public-private partnerships (PPP) that can draw both local and foreign funding. Speakers also pointed to ease-of-doing-business initiatives and economic liberalization as measures that can make entering and expanding in the Philippines easier for investors.
The government entered 2026 with 251 projects worth about ₱2.81 trillion in its PPP pipeline, underscoring the scale of opportunities that could require private capital.
For HSBC Philippines CEO and Head of Banking Sandeep Uppal, the investment case for the country is already visible internationally.
HSBC Philippines CEO and Head of Banking Sandeep Uppal (IMAGE CREDIT: People Asia)
“What they are asking for is a clearer path from interest to projects they can commit to,” Uppal said, adding that closer alignment between government and business could shorten that path.
As competition for international capital intensifies, the Philippines’ ability to provide regulatory clarity, infrastructure support and faster project execution could increasingly determine whether investor interest translates into capital put to work in the economy rather than remaining at the announcement stage.
