Speaker: Indo-Pacific Business Forum to bring investment inflows into PH
MANILA, Philippines — House of Representatives Speaker Ferdinand Martin Romualdez said he is optimistic that the upcoming 6th Indo-Pacific Business Forum (IPBF) will lead to a surge of foreign investments and create more livelihood opportunities for Filipinos.
This was after President Ferdinand “Bongbong” Marcos Jr. extended his invitation for the forum to American business leaders during the Philippine-US Business Forum in Washington, D.C.
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“I am confident that the 6th Indo-Pacific Business Forum will serve as a springboard for increased investment inflows into the Philippines,” said Romualdez, as quoted in a statement on Saturday.
“By bringing together key stakeholders to discuss critical issues and explore collaboration opportunities, we aim to propel the country’s economic growth and development to new heights, creating more jobs and livelihood opportunities for our people,” he added.
The 6th IPBF, co-hosted by the US Trade and Development Agency in partnership with the US Department of State, will be held on May 21.
It is expected to bring together some 500 “business leaders, project developers, government officials, and financing sources to discuss topics such as infrastructure, supply chain resilience, critical minerals, clean energy, the digital economy, emerging technologies, and inclusive trade.”
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Aside from showcasing the Philippines’ business potential, the House Speaker said that the IPBF would also strengthen ties with global partners and help share the best ways to do things in different areas.
“The House of Representatives will continue working hand in hand with the administration of President Marcos towards the realization of his vision for the Philippines to achieve upper-middle income economy status by the start of the next decade,” Romualdez said.
During the PH-US Business Forum, Marcos assured US business leaders of consistent efforts to create a more investment-friendly environment in the Philippines.
He cited the government’s key legislation, such as the Public Services Act, the Retail Trade Liberalization Act, the Foreign Investments Act, and the IRR of the Renewable Energy Act.
The President also mentioned Executive Order 18, which established the Green Lanes for Strategic Investments aimed at streamlining processes and permitting procedures for businesses.
