MANILA, Philippines — President Ferdinand Marcos Jr. on Monday said that the national government is “continuously finding ways” to make the country a “conducive” and “sustainable” spot for foreign investments.
Marcos made the pronouncement during the Philippines-Republic of Korea Business Forum at the Manila Hotel, which was held shortly after a bilateral meeting and signing of various agreements with South Korean President Yoon Suk Yeol.
In his speech, Marcos expressed how the Philippines is “ready to embrace with open arms” investments from South Korea
“To our esteemed Korean partners, I want to assure you: The Philippine government stands ready to embrace your investments with open arms and with continuing and unwavering support,” said Marcos.
“We are continuously finding ways to make the Philippines a more conducive place to do business. We are accelerating policy reforms designed to improve the business environment here,” he added.
Among these efforts, said Marcos, is the enactment of the PPP or Public-Private Partnership (PPP) Code of the Philippines, Internet Transactions Act, and Tatak Pinoy Act, which are laws intended to boost infrastructure, regulate e-commerce, and promote local industries in global markets to benefit the economy.
“Through key policy reforms and measures such as these, we aim to make the Philippines a top destination for sustainability — and to be sustainable in our strategic investments,” he said.
Marcos also cited international agreements such as the Association of Southeast Asian Nations (Asean)-Korea Free Trade Agreement and the Regional Comprehensive Economic Partnership Agreement, which paved the way for the Philippines to pursue its regional economic integration agenda actively.
He also mentioned the Philippines-Korea Free Trade Agreement which “elevated relations” between the Philippines and South Korea by eliminating tariffs on agricultural goods, electronics, and automotive components.
READ: Marcos pushes free trade pact with South Korea