Marcos says PH aiming to be leading global investment hub

MANILA, Philippines  – The administration has been “trying very hard” to make the Philippines a leading investment hub in the world, President Ferdinand Marcos Jr. said.

He said this during a courtesy call with World Trade Organization (WTO) Director General Dr. Ngozi Okonjo-Iweala and Canadian Minister of Export Promotion, International Trade and Economic Development Mary Ng in Malacañang on Wednesday.

READ: PH seen to miss ʼ24 GDP growth target

In their meeting, Marcos stressed the importance of engaging allied countries to position the Philippines as a leading investment hub.

“We’ve been trying very hard to restructure ourselves so just to make us more business-friendly, investment-friendly. And that’s why such all of these, our interactions, are important to us,” Marcos told Ng.

Ng and her delegation are in the country for the Team Canada Trade Mission Philippines, happening from December 4 to 6.

Moreover, Marcos emphasized that trade has become more important especially after the challenges brought by the pandemic.

“We have big plans and I think one of the many things that we picked up from the conference just like Davos with interactions with other leaders and other countries, is that it really requires transformation. But trade has become more important than ever,” Marcos told Iweala.

READ: PH targets 6-8% growth till 2028

For her part, Iweala commended Marcos for the Philippines good economic performance despite global challenges.

“I want to start by congratulating you because I was looking at the numbers of the economy. And you are not doing badly at all. Six percent per annum growth rate in an environment of high inflation in the world, low growth rates. So I think the Philippines is doing reasonably well under the circumstances,” Iweala said.

The WTO official is in the Philippines to meet with the Secretaries of Finance, Trade, and Agriculture.