Oliver Bugarin 8 0 0 5 min to read

Marcos advises US investors that investing in PH is a wise decision.

On Thursday (Manila time), President Ferdinand “Bongbong” Marcos Jr. promised American investors of a “favorable” business climate in the Philippines and said that due to its economic recovery, it is a “wise” nation to invest in.

Marcos highlighted the government’s efforts to revive the economy with attendees of the Philippine Economic Briefing in New York by opening up a “wider space” for beneficial investments.

“We think investing in the Philippines is wise, and the greatest time to work with us is right now. In his speech, he remarked, “We have excellent chances, the timing, and the window of investment opportunities.

According to Marcos, the Philippines is “Asia’s fastest-rising economic star,” making it a trustworthy location for international collaborations thanks to its “strong macroeconomic fundamentals” and “clear roadmap” for long-term economic success.

“Over the following six years, the nation will experience a vigorous epidemic recovery and broad-based growth. In fact, our projected economic performance over the next few years is predicted to outperform that of our neighbors in the area, he continued.

He said that his administration is creating chances for high-value investments from domestic and foreign business groups, emphasizing the growth of digital infrastructure, research, and development, as well as the creation of broad-based jobs.

More investments equate to greater economic activity, more high-caliber jobs, and ultimately improved living conditions for Filipinos, he claimed.

According to Marcos, the government has “expanded” the space for foreign investments in previously protected sectors with the passage of the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) and the economic liberalization measures, particularly in those that make use of cutting-edge technologies and R&D activities.

socioeconomic agenda with 8 points

Marcos also spoke about the government’s eight-point socioeconomic strategy, which aims to significantly reduce the prevalence of poverty and move the nation into upper middle-income status.

“Shortly, we will discuss the effects of escalating inflationary pressures brought on by an increase in the prices of essential goods like food and fuel worldwide. By increasing local food production and maintaining targeted assistance for the industries most negatively impacted by the rise in fuel prices, he said we would secure domestic food security.

“We will increase infrastructure and human capital development investments in the medium term to support job creation. Additionally, he continued that we must practice budgetary restraint as we work to complete this agenda.

He claimed that the first-ever medium-term fiscal framework for the nation is intended to safeguard its budgetary stability.

In addition, Marcos promised that his administration would keep funding public infrastructure by utilizing the mechanism of public-private partnerships and enhancing the connectivity of transportation systems by accelerating the construction and improvement of the country’s railways, airports, seaports, and road infrastructure.

In order to secure food security and lower the prevalence of poverty, Marcos said his administration would put its efforts into promoting an effective and modern agriculture sector. He called agriculture a “powerful motor for progress.”

According to Marcos, the government would also revitalize the tourism industry by investing in travel infrastructure and promoting the Filipino brand.

“We will assure the safe reopening of tourist places and develop the Philippines’ yet-to-be-discovered attractions,” he said of the attempts to revive local and foreign tourism.

Strong relationships have been forged between the US and the Philippines regarding trade, commerce, development, and other facets of relations.

The US is currently the Philippines’ fourth-largest source of foreign direct investment and third-largest training partner.

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