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Philippines

General Santos City in Mindanao
Plaza Heneral Santos in General Santos City in Mindanao. Photo credit: RobSison Videography.

The Philippines finished strong in 2023 with a full-year gross domestic product (GDP) growth rate of 5.6%. due to stronger domestic demand despite an elevated inflation rate and external challenges.

The strength in domestic demand was evident in higher household consumption and investments, particularly public infrastructure, showing that the Build Better More Program is reaping benefits in terms of its high multiplier effect on the economy.

The robust household consumption reflects strong spending, supported by a healthy job market, consistent inflows of remittances from overseas Filipinos, and a surge in demand for goods and services.

The government projects faster GDP growth of 6.5% to 7.5% in 2024 despite domestic and external headwinds. It will continue pushing forward strategies to boost economic growth and ensure that the Philippines remains on track with its medium- to long-term goals.

The Philippine Development Plan, 2023–2028 lays out the government’s socioeconomic agenda and strategies. Launched in December 2022, the plan aims to guide the economy back to a high growth trajectory, reinvigorate the creation of high-quality jobs, and accelerate poverty reduction. It prioritizes further investment in infrastructure and human capital development, climate change mitigation and adaptation, and targeted social assistance.

In the Philippines, BIMP-EAGA covers the entire island of Mindanao and the island province of Palawan.

Mindanao and Palawan are part of the Greater Sulu–Sulawesi Corridor (GSSC), which also includes North Sulawesi in Indonesia and Sabah in Malaysia.

BIMP-EAGA Officials and Contacts in the Philippines

BIMP-EAGA Signing Minister
Mr. Leo Tereso Abellera Magno
Secretary and Chairperson
Mindanao Development Authority (MinDA)

Senior Official
Mr. Glenn G. Peñaranda
Assistant Secretary 
Department of Trade and Industry

National Secretariat
Ms. Janet Lopoz
Undersecretary and Executive Director
Mindanao Development Authority

Mr. Romeo Montenegro
Assistant Secretary and Deputy Executive Director
Mindanao Development Authority

Mr. Rodrigo Giducos
Director for Investments Promotion and Public Affairs
Mindanao Development Authority

Mr. Jonathan Miral
Development Management Officer V (Division Chief)
International Relations Division
Mindanao Development Authority

Ms. Eamarie Gilayo
Development Management Officer III
International Relations Division
Mindanao Development Authority

Mr. Amhed Jeoffrey Datukan
Development Management Officer III
International Relations Division
Mindanao Development Authority