MANILA — Starting a business in the Philippines may now be done in one step…
The government will make PH a “viable choice” for business: Marcos
President Ferdinand R. Marcos declared on Thursday that the national government is “unwavering” in its commitment to making the Philippines a competitive alternative for enterprises for both domestic and foreign investors.
Marcos restated his pledge that the government would take the necessary action to improve the connection between businesses and the government, consumers, and the general public in his address to the business community.
“…We know that our companies cannot succeed independently. The 48th Philippine Business Conference and Exposition (PBC&E) of the Philippine Chamber of Commerce and Industry (PCCI) was held at the Manila Hotel. “Therefore, it is my commitment to foster a sound environment where businesses can flourish and continue to be a driver of our economic growth,” he said in his speech.
He continued, “I repeat my objective of enhancing our business environment and upgrading the Philippines’ position as a top investment destination through numerous activities.
By improving the nation’s digital infrastructure to speed up the application processes for business permits, licenses, and other documentation needs, Marcos vowed that his government would continue to make it easier for people to do business in the nation.
According to him, the government is likewise committed to growing the nation’s renewable energy industry to guarantee a sufficient electricity supply and lower rising electricity prices.
According to him, the administration wants to ensure the nation’s energy supply and draw in foreign capital for the growth of renewable energy by modifying the Implementing Rules and Regulations of the Renewable Energy Law.
The technology for renewable energy has advanced so swiftly that we must catch up with our rules and supervision of our renewable energy sector, he added. “We must make these reforms,” he said.
Additionally, Marcos pledged to advance infrastructure development with a focus on public-private partnerships (PPPs) in significant projects.
He claimed that as of August of this year, there were 74 PPP projects in the works, with a projected cost of PHP2.25 trillion, citing official data.
However, he asserted that more needs to be “done” to entice investors to set up shop in the nation.
Marcos praised the business community for playing a significant role in the nation’s post-pandemic recovery.
As we overcome the challenges provided by the Covid-19 pandemic and the shocks that the economy, the global economy, has experienced in recent months, “In fact, you will be the key driver of our success,” he stated.
He also expressed the expectation that they will contribute to developing “a more progressive, more economically nimble community” for the country.
He stated, “I look forward to seeing you establish new ties here, and it is thrilling to see the solutions that you will develop to extend our horizons moving forward—one that will be teeming with opportunities that our people richly deserve.
We can all proudly declare to the world that the Philippines is indeed open and prepared for business again after today, once transactions have been closed, policies have been agreed upon, and bonds have been renewed and forged, he continued.
The 48th Philippine Business Conference and Exposition, held by the PCCI, aims to open up discussion on important business and economic policy initiatives and programs essential for guiding the Philippines toward sustained economic recovery and prosperity.
Ferdinand Ferrer, the conference’s chair and the CEO of the EMS Group of Companies, presented the president with ten conference resolutions during the ceremony.
“The private sector’s resolve to give meaningful solutions to the urgent issues and concerns that will help us deal with the considerable challenges and opportunities in the years ahead,” according to Ferrer, is reflected in the resolutions.
“These resolutions will help us achieve food security, move toward a science-based and transparent healthcare system, support new investments and create more jobs, establish and maintain quality standards in all levels of our educational system, deepen cooperation and expand participation in the international fronts, implement a nationwide reliable and competitive digitalization program, address climate change, and ensure reliable and affordable power supply to s
Additionally, Marcos oversaw the awarding of prizes for the Most Outstanding Chamber and the Local Government Unit with the Most Business-Friendly Attitude.
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