MANILA – The American Chamber of Commerce of the Philippines (AmCham) said the country’s recent classification as an upper-middle income country (UMIC) highlights its potential as a competitive destination for investments.

The statement came after the World Bank announced that the Philippines’ gross national income (GNI) per capita rose to USD4,850, surpassing the USD4,636 threshold required for upper-middle income status.

In a statement, AmCham described the reclassification as a significant economic milestone.

“This achievement sends a positive signal to global investors at a time when companies are reassessing supply chains, expanding regional operations, and looking for new growth markets across the Indo-Pacific. It reinforces the Philippines’ position as a competitive destination for investment and job creation,” it said.

The chamber said many U.S.-based companies continue to view the Philippines as one of Southeast Asia’s most promising markets, citing the country’s young and skilled workforce, strong English proficiency, growing consumer market, and long-standing economic ties with the United States.

According to AmCham, these strengths could help attract more investments in advanced manufacturing, digital services, infrastructure, healthcare and other high-value industries.

The business group also said the government should capitalize on the country’s new income status by sustaining economic growth and improving competitiveness.

“Priorities such as accelerating infrastructure development, improving digital connectivity, ensuring affordable and reliable energy, streamlining government processes, strengthening public-private partnerships, and advancing policies that encourage innovation and investment will help position the Philippines to attract more high-value investments and create better jobs,” it said.

AmCham added that continued collaboration between the public and private sectors would be crucial to ensure the country’s new classification leads to broader economic opportunities and long-term prosperity.