台灣與菲律賓相近的地理位置促成雙方密切的文化與經濟交流，儘管兩國未建立正式外交關係，在貿易與投資領域保持高度互動，台灣更是菲律賓主要投資來源國之一。然而，與台灣在越南等東南亞國家的投資規模相比，對菲律賓仍屬有限。本研究旨在探討儘管雙方積極推動投資，台灣對菲律賓投資規模仍相當有限的原因。本研究採用所有權、區位與內部化優勢（OLI）理論，分析影響台灣投資者決策的主要阻礙因素。以台灣對外貿易發展協會（TAITRA）及中華經濟研究院相關報告為主要資料來源，本研究深入剖析台商在菲律賓的經營感受與經驗。我們發現，區位因素如基礎設施不足、供應鏈斷裂、法規複雜及治理效率低落，是主要的投資障礙。此外，所有權方面的挑戰（如智慧財產權保障薄弱）以及內部化風險（如契約違約）亦進一步降低台商投資意願。

The geographical proximity of Taiwan and the Philippines has fostered strong cultural and economic ties between the two. Despite the absence of formal diplomatic relations, they maintain robust engagement, particularly in trade and investment. Taiwan ranks among the top investors in the Philippines. However, its investment inflows remain modest compared to its investments in other Southeast Asian countries, such as Vietnam. This study investigates why Taiwanese investment in the Philippines remains limited despite mutual investment promotion efforts. Applying the ownership-, location-, and internalization-specific advantages (OLI) framework, the research identifies key deterrents for Taiwanese investors. Drawing primarily on reports from the Taiwan External Trade Development Council (TAITRA) and Chung-Hua Institution for Economic Research, the study analyzes Taiwanese business perceptions and experiences in the Philippines. The findings reveal that location-specific factors – such as inadequate infrastructure, fragmented supply chain, complex regulations, and governance inefficiencies – are the primary deterrents. Additionally, ownership-specific challenges, that is, weak intellectual property safeguards, and internalization-specific risks, such as contract breaches, further discourage investment.

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