Marcos Economic Team Entices US Investors

The economic managers under the current administration are courting more foreign investors, specifically from the US to invest in the country, citing the Philippines’ sound macroeconomic fundamentals and the government’s plans for sustainable growth and economic recovery.

In the first-ever Philippine Economic Briefing (PEB) held in North America last September 22, the Philippine economic delegation led by Department of Finance (DOF) Secretary Benjamin E. Diokno, introduced the budget and key structural reforms which will aid the Philippine economy’s resurgence.

Diokno said that “As we pursue the economic transformation of the Philippines in the next six years, the Marcos administration is determined to explore new frontiers with investors from the US and the rest of the world,”

“This is why we believe that this is the best time to do business in the Philippines,” he adds.

The event was attended by an estimated 150 bank and financial institution analysts, credit rating agencies, business chambers and groups, and investors.

In the investor’s briefing, Diokno highlighted the government’s intention of propelling the Philippines towards sustainable and broad-based growth in six years, underscoring the implementation of key structural reforms, coupled with the full reopening of the country’s economy.

Secretary Diokno likewise revealed the first-of-its-kind Medium-Term Fiscal Framework. This plan would hold several measures that will push for efficient and fair tax administration via digitalization and environmental sustainability initiatives in the Philippines.

It is also Secretary Diokno’s expectation that the public-private partnership (PPP) arrangement will provide more jobs for Filipinos and reduce poverty in the long term.

Source: Manila Bulletin