Marcos Invites Korean Businesses to Invest in the Philippines at Manila Forum

MANILA — President Ferdinand “Bongbong” Marcos Jr. has extended an invitation to Korean businesses, emphasizing the Philippines’ readiness to support foreign investments. Speaking at the Philippines-Korea Business Forum held at the Manila Hotel, Marcos highlighted the administration’s ongoing efforts to improve the business climate in the country.

“We are continuously finding ways to make the Philippines more conducive for business,” Marcos assured attendees. He also underscored recent reforms aimed at fostering sustainability and advancing the Philippines as a prime investment destination in Southeast Asia.

Marcos noted that the new Philippines-Korea Free Trade Agreement (FTA), which reduces tariffs on key goods like electronics and agricultural products, represents a significant step towards strengthening economic ties. He also highlighted opportunities for collaboration in sectors such as electric vehicles, pharmaceuticals, and critical minerals.

The Philippines-Korea FTA is part of a broader regional economic integration strategy that includes ASEAN-Korea and the Regional Comprehensive Economic Partnership (RCEP) agreements.