Bongbong Marcos vows businesses will thrive in PH
MANILA, Philippines — President Ferdinand “Bongbong” Marcos Jr. on Thursday made a commitment to the business sector to foster a sound environment where it can flourish, recognizing its role as a driver of economic growth as the Philippines recovers from the COVID-19 pandemic.
He made the assurance during the 48th Philippine Business Conference and Exposition of the Philippine Chamber of Commerce and Industry (PCCI) at the Manila Hotel.
“We recognize the fact that our businesses cannot thrive alone. Thus, 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 keynote speech.
“I reiterate my vision of improving our business climate and elevating the status of the Philippines as a top investment destination through various endeavors,” Marcos added.
The President said the government will continue to harmonize efforts of all investment promotion agencies, government agencies, and local government units to effect greater synergies.
His administration will likewise continue to ease doing business in the country by enhancing digital infrastructure aimed at streamlining the application processes for business permits, licenses, and other requirements, Marcos added.
Article continues after this advertisementHe also committed to developing the country’s renewable energy sector to ensure adequate power supply and stabilize electricity costs.
Article continues after this advertisementThis, he said, will be done by revising the Renewable Energy Law’s Implementing Rules and Regulations to secure energy supply, as well as attract foreign investments for renewable energy development.
The government will also strongly push infrastructure development with special emphasis on public-private partnerships in key projects.
Marcos said the public and private sectors must work together to develop more infrastructure and energy projects and “more projects for agriculture, all that will empower and strengthen both our economy and our nation.”
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