Philippines
The Philippine economy maintained a steady gross domestic product (GDP) growth of 5.6% in 2024.
Services and industry remained the main drivers of growth, expanding by 6.7% and 5.6%. Domestic demand remained strong with a 5.7% growth in 2024 as all major expenditure items showed robust expansions. (Access the latest statistics from BIMP-EAGA's subregional database.)
The outlook for 2025 remains bullish, fueled by lower inflation and higher consumption and investments.
As domestic and external headwinds persist in 2025, the government will continue implementing growth-enhancing strategies to 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 and Sabah.
BIMP-EAGA is planning to reconfigure and expand its three existing economic corridors and develop a fourth economic corridor.
BIMP-EAGA Officials and Contacts in the Philippines
BIMP-EAGA Signing Minister
Mr. Leo Tereso Abellera Magno
Secretary and Chairperson
Mindanao Development Authority (MinDA)
Alternate Senior Official
Ms. Janet Lopoz
Undersecretary and Executive Director
Mindanao Development Authority
National Secretariat
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