With the signing of a bilateral investment agreement and the New Southbound Trade Treaty between…
Romualdez tells US investors that now is the time to invest in PH.
Martin Romualdez, the speaker of the house, has reassured the American business community that the Philippines is ready for greater investments and that local lawmakers are working hard to make business there easier.
On Tuesday (Philippine time), Romualdez, who is visiting the US alongside President Ferdinand “Bongbong” Marcos Jr. for business purposes, gave the keynote address at the New York Stock Exchange Business Forum, which US business leaders attended.
Thank you for giving the Marcos administration a chance and for considering the President’s program and goals. We are willing to expand and solidify our economic cooperation with the Philippine government. Let’s keep fostering business and investment links that benefit both parties, Romualdez added, promising to fortify already strong ties between the Philippines and the US.
Romualdez claimed that Congress and Marcos have collaborated to enact changes and draw more foreign investors to the Philippines.
The Philippine House of Representatives, he said, “remains committed to implementing laws that would help enhance collaboration with the United States, notably in the supply chain, health and security, environment and climate change, energy security, and interconnectivity.
The US is an important source of investments for the Philippines as it is their main commercial and economic cooperation partner and ally.
It is also the main recipient of remittances from Filipino-Americans and OFWs who work abroad.
To implement President Marcos’ infrastructure renovation program, which is the best generator of economic growth, Romualdez stated that the Philippines “require more trading partners.”
He claimed that Marcos wants to continue government efforts to address the disastrous consequences of the coronavirus disease-19 pandemic-related health disaster.
To do this, he continued, government spending should be directed at strengthening the nation’s healthcare systems, ensuring food security, expanding investments in public and digital infrastructure, and assisting communities in coping with and overcoming challenges.
To save lives and defend communities from the ongoing threat of the global health crisis, Romualdez stated, “we have to make diverse sectors of the economy stronger and more nimble by creating more jobs and igniting economic activity across the nation. “With your support, under President Marcos’ direction, you would help us get back on our feet and move us closer to accomplishing our dream of giving our fellow Filipinos a brighter future,”
After successful tours to Singapore and Indonesia, where the respective business communities of the two countries pledged more than USD14 billion in investments, Romualdez expressed high hopes for Marcos’ working visit.
At the 77th United Nations General Assembly in New York, Marcos will make the national declaration for the Philippines.
At this year’s high-level General Debate, he will be the first representative of the Association of Southeast Asian Nations to make a statement.
Marcos will meet with world leaders and continue his discussions with foreign investors about doing business in the Philippines and presenting the Philippines’ viewpoints on major global issues at the UNGA.
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