The Philippines has surged to 16th place in the Fraser Institute’s 2024 Annual Survey of Mining Companies, up from 72nd out of 86 jurisdictions in 2023 — the largest improvement for the country in the past decade.
The survey’s Investment Attractiveness Index ranked the Philippines among the top 20 globally, reflecting gains from governance and policy reforms.
In the Policy Perception Index, the country jumped to 25th out of 82, from 79th the previous year.
In the Best Practices Mineral Potential Index, the Philippines climbed to 9th out of 58, from 41st in 2023.
The Chamber of Mines of the Philippines (COMP), in a statement, said the leap was a direct result of coordinated efforts to create greater policy stability and improve the ease of doing business for responsible miners.
“The Philippines just surged to 16th place in the latest Fraser Institute Annual Survey of Mining Companies, a massive leap from 72nd out of 86 jurisdictions just last year. This dramatic improvement in our investment attractiveness ranking shows that steady reforms under the Marcos administration are paying off, especially in creating greater policy stability and making it easier to do business (EODB) for responsible miners,” COMP said.
COMP also recognized the collaborative efforts of the Anti-Red Tape Authority, Department of Finance, Department of Trade and Industry, Department of Environment and Natural Resources, Mines and Geosciences Bureau, National Commission on Indigenous Peoples, and the Office of the Special Assistant to the President for Investment and Economic Affairs.
COMP also pointed to the Mining Fiscal Regime Bill as a critical next step in cementing the country’s investment appeal.
“Even better, the forthcoming Mining Fiscal Regime Bill promises to lock in even more predictability and strengthen the Philippines’ reputation as a reliable destination for long-term mineral investments,” it said.
President Ferdinand R. Marcos Jr. has repeatedly underscored responsible mining as a driver for rural development and a key component of the clean energy transition.
The Fraser Institute’s Annual Survey of Mining Companies is a recognized benchmark for investment destinations, assessing how policy, governance, and resource potential influence exploration and development decisions.
The 2024 survey, conducted from August 7 to December 15, 2024, gathered responses from 2,289 mining, exploration, and development companies worldwide. It evaluated how factors such as taxation, permitting, and land access either encourage or deter investment.
The Fraser Institute, based in Canada, is an independent public policy think tank conducting global research and advocacy on economic and policy issues.
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