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President Ferdinand R. Marcos Jr. highlighted the Philippines’ investment appeal at the 6th Indo-Pacific Business Forum (IPBF) in Taguig City. He emphasized the government’s dedication to developing the Luzon Economic Corridor, promoting renewable energy (RE) ventures, and advancing digitalization efforts.
In his address, President Marcos emphasized the significance of enhancing Luzon Island’s infrastructure to empower the workforce and facilitate efficient trade. He outlined key projects aimed at fostering growth in the Luzon Economic Corridor, linking Subic, Clark, and the CALABARZON region to bolster the Philippines’ position as a regional hub for agribusiness and logistics.
Regarding renewable energy, President Marcos underscored the country’s vast potential, with over 491,821 megawatts available from geothermal, hydropower, solar, and wind sources. Recent amendments allowing 100 per cent foreign ownership of RE sources make the Philippines an attractive destination for clean energy investments. The government aims to increase the share of renewables in the power generation mix from 22 per cent to 50 per cent by 2040.
Additionally, President Marcos highlighted the Philippines’ commitment to digital transformation, focusing on enhancing digital infrastructure, connectivity, and business facilitation. With a strong emphasis on supporting micro, small, and medium enterprises (MSMEs), the government aims to equip them with the necessary tools for sustainable growth.
President Marcos emphasized the potential for Indo-Pacific investors to contribute to the expansion of MSMEs in the Philippines. He highlighted the country’s expertise in IT-BPM competencies and its shift towards Knowledge Process Outsourcing, offering opportunities in market intelligence, business analytics, legal services, and AI.
Furthermore, President Marcos highlighted the strategic location of the Philippines, providing access to the Southeast Asian consumer market of over 600 million people. With its proximity to growing economies, the Philippines offers opportunities for companies to enter supply chains and participate in inter-country economic systems, fostering collaboration and partnerships. |
