The recent visit of President Ferdinand R. Marcos Jr. to the US indicates the Philippines’ readiness for new economic developments and manifests the President’s strong leadership to make the country progressive, a trade official said on Saturday.
In order for the Philippines to sustain the momentum following the trip of the President, the government must ensure equal opportunity among different regions and also activate the Regional Development Council, according to Department of Trade and Industry Assistant Secretary Dominic Tolentino, head of the DTI’s regional operations group.
Tolentino told a media forum that the government should also support and strengthened micro, small and medium enterprises (MSMEs), underscoring their importance to generate livelihood, jobs, and income.
These initiatives must be carried out with the help of science, innovation and technology without forgetting the importance of the value chain to build investors’ confidence, especially as the Philippines competes overseas, he said.
“Ako po ay naniniwala na sa pagtutulungan at pagkakaisa ng bawat Pilipino ito po ay ating magagampanan. Ang kailangan lang po ay suportahan natin ang liderato ng ating mahal na Pangulo dahil ang kaniya pong inuuna ay kapakanan ng bawat mamamayang Pilipino lalung-lalo na po ang maliliit na naghahanapbuhay,” Tolentino said.
“Kung mayroon tayong mga investors na darating at tayo ay may tinatawag na stability sa grounds ako po ay naniniwala lalong magiging positibo ang bawat isang mamamayan. Kaya tayo pong lahat, ako po ay bumabati at nagku-congratulate sa inyo pagtulungan po natin, let us make the Philippines the prime destination in business,” he said.
During the President’s five-day official visit to the US, the chief executive had discussions with various business organizations such as United States Chamber of Commerce, and United States-ASEAN Chamber Business Chamber, and enticed them to put their money in the Philippines.
American businesses have shown interest in investing or expanding in multiple areas including food production and manufacturing, auto assembly, business process outsourcing (BPO) and other manufacturing activities.
In his post-visit report following his official visit to the US, Marcos said he secured over US$1.3 billion in investment pledges that have the potential to create around 6,700 new jobs for Filipinos.
The President expects these investments to support the country’s economic recovery efforts and further strengthen the foundations of its economic environment.
These pledges from American investors are a sign of the trust and confidence in doing business in the Philippines, as many of them see the country as an investment destination, he added. (PND)
