PHL ripe for more investments under PBBM–House Speaker

The Philippine government has assured foreign investors who intend to do business in the Philippines of huge opportunities and a vibrant economy, the Speaker of the House of Representatives said.

Speaker Martin G. Romualdez has rallied support from investors in the US for the vision and programs of President Ferdinand “Bongbong” R. Marcos Jr., saying that the Philippines is very ripe for more investments.

Romualdez, who is part of the President’s official delegation, made the statement after President Marcos delivered Monday (US time) the keynote message before the New York Stock Exchange economic forum attended by the Philippines and US-based business leaders.

In line with President Marcos’s vision to recover from the public health crisis gripping the globe today, Romualdez assured investors that Filipino lawmakers have been exerting all efforts to ease doing business in the Philippines and bring forth a more conducive business environment that would foster economic growth.

“Rest assured that we, in the Philippine House of Representatives, remain committed to enacting laws that would help deepen cooperation with the United States, particularly in the areas of the supply chain, health and security, environment and climate change, energy security, and interconnectivity,” Romualdez said, making a solid and strong investment pitch to members of the US business community.

Romualdez said Congress has been working very hard with the Chief Executive to introduce reforms and attract more foreign investors into the Philippines.

“With your assistance under the leadership of President Marcos, you would help us get back on our feet and bring us closer to realizing our dream of providing a better future to our fellow Filipinos,” Romualdez said.

Before attending the event at the New York Stock Exchange, Romualdez said President Marcos led a series of meetings with officials of big business firms to discuss potential investments in the Philippines.

“We need more trading partners to realize President Marcos’s infrastructure modernization program, which is the best driver of economic growth,” Romualdez said.

He said President Marcos aims to sustain government efforts toward effectively responding to the crippling effects of the health crisis brought by the Covid-19 pandemic by focusing government spending on improving the country’s health-care systems, ensuring food security, increasing investments in public and digital infrastructure, and helping communities cope and prevail in these trying times.

“We have to make different sectors of the economy stronger and more agile by creating more jobs and catalyzing business activities all over the country while saving lives and protecting communities from the continuing threat of the global health crisis,” Romualdez said.

“Thank you for giving an opportunity to the Marcos administration and for considering the President’s agenda and vision. We are open to broadening and strengthening the economic partnership with the Philippine government. Let us continue to promote mutually beneficial trade and investment relationships,” Romualdez said, vowing to make even stronger the robust ties between the Philippines and the United States.

President Marcos Jr. will attend the 77th United Nations (UN) General Assembly in New York City.

The Speaker said the US is also a significant source of investments.

After all, Romualdez said the US is the Philippines’s major trading and economic cooperation partner and ally.

The US is also the biggest source of remittances from overseas Filipino workers and Filipino-Americans, Romualdez added.

Earlier, Romualdez said he has high hopes for the visit’s success, coming as it does after President Marcos’s recent successful trips to Indonesia and Singapore that resulted in more than $14 billion in supply and investment pledges from Indonesian and Singaporean businessmen.