Sweden remains bullish on Phl, but...

The first Business Climate Survey for Swedish Companies in the Philippines, published by Team Sweden and which was distributed at the Nordic Ambassadors’ Forum held at the Dusit Thani Hotel in Makati last Thursday, Nov. 13, shows that 55 percent of Swedish firms plan to increase investments in the country in the next 12 months, while 58 percent expect industry turnover to grow.

- MARIANNE GO

The survey gathered responses from 31 Swedish firms operating across energy, industrial equipment, consumer goods and professional services.

The Nordic Ambassadors’ Forum was hosted by NordCham Philippines.

While the survey focused on Swedish firms, the findings reflect wider Nordic sentiment in the Philippines, where companies from Denmark, Finland and Norway have also expanded their presence in recent years.

Swedish Ambassador Anna Ferry said confidence in the Philippine market remains strong. “We're very bullish when it comes to the Philippines. We're quite positive of the business climate here,” she said.

According to the 2025 Business Climate Survey recently conducted by Sweden, “The Philippines stands out as one of Asia’s most dynamic and resilient economies, having outpaced both regional and Southeast Asian growth averages in 2024.”

Furthermore, the Swedish business climate survey showed that the Philippines maintains a strong growth trajectory through 2027.

This momentum, the survey said, is anchored on a robust combination of demographic strength, sustained consumption, ongoing structural reforms and accelerated infrastructure development.

Despite the Philippines’ positive economic trajectory, however, the survey showed that companies still face significant challenges that limit their growth.

Swedish companies are hopeful, but continue to deal with regulatory complexities and infrastructure issues that hinder smooth operations. Forty-one percent of respondents consider the business environment “good” or “very good.”

While larger firms, especially those in industrial and professional services, express more confidence in the market, smaller and newer companies admitted that they face difficulties, with profitability rates significantly lower.