Speaker Romualdez joins Pres. Marcos in meeting with Cambodia top business leaders

PHNOM PENH, Cambodia — Speaker Martin G. Romualdez on Thursday accompanied President Ferdinand “Bongbong” R. Marcos, Jr., other Philippine officials, and Filipino businessmen in a roundtable meeting with top business leaders of Cambodia.

“It is an honor to represent the entire House of Representatives in the meeting of President Bongbong Marcos with Cambodian business leaders,” Romualdez said.

Romualdez said the House of Representatives supports the Marcos administration’s programs to attract more foreign direct investments into the country to revitalize the economy and improve the lives of Filipinos.

“We would study needed refinements in our laws, regulations, and government policies so as to further attract foreign investments and create more jobs for Filipinos,” Romualdez said.

Earlier, President Marcos told the Cambodian business leaders that as evidenced by the latest economic figures, his administration appeared to have steered the Philippine economy in the right direction, amid the challenges posed by external forces.

“It looks like the route that we have taken is taking the economy in the right direction,” President Marcos said during the roundtable meeting.

The National Economic and Development Authority (NEDA), reported that the Philippine economy grew by 7.6 percent in the third quarter of 2022, faster than the 7.5 percent expansion in the second quarter of 2022 and the 7.0 percent growth rate in the third quarter of 2021.

In a report to President Marcos, NEDA said the country remains on track to achieving the government’s growth target of 6.5 to 7.5 percent for 2022.

According to Romualdez, Cambodian business leaders are keenly interested in the Philippines which developed into one of the favored destinations of foreign investors because of the improved climate for investments in the Philippines.

Other Philippine officials who took part in the meeting include Department of Trade and Industry Secretary Alfredo Pascual, Department of Social Welfare and Development Secretary Erwin Tulfo, and Philippine Ambassador to Cambodia Maria Amelita Aquino.

Among those who represented Philippine business include Mr. Joey Concepcion, who is also the chairman of the ASEAN Business Advisory Council (ASEAN BAC), Mr. George Barcelon (ASEAN BAC PH member), Felta Multi-Media Inc. CEO Mylene Abiva, Home Healthlink Innovations, Inc. CEO Shiela Marie Acosta, Esquire Financing CEO Rajan Uttamchandani,  and CEO and President of Philippine Blue Cross Biotech Corporation Benito Techico.

Earlier, Malacañang said among the priorities of President Marcos during the trip to Cambodia and the ASEAN Summits is post-pandemic economic recovery and transformation.

These concerns cover food security, energy security, digital transformation, and the digital economy, among others.