Top salesman for PH
JUST like what he does in his foreign trips, President Ferdinand R. Marcos Jr. assumed the role as the ‘best salesman’ for the Philippines during his travel to Laos recently.
He wore anew his salesman hat in the ASEAN summit where he invited investors to explore the opportunities in the Philippines that span across multiple industries.
Addressing the Association of Southeast Asian Nations Business and Investment Summit (ABIS) 2024, President Marcos made the pitch for the Philippines as an ideal hub for smart and sustainable manufacturing.
He emphasized the Philippines is pursuing aggressive development in infrastructure, manufacturing, agriculture and digital connectivity.
The President told the gathering the Philippines is targeting industries like green metals, battery manufacturing, energy equipment, data centers, and agribusiness.
To support these goals, the government enacted key reforms such as the Public-Private Partnership (PPP) Code, the Internet Transactions Act, and Executive Order No. 18 series of 2023.
It is also pursuing the enactment of other key legislations like the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy, or the CREATE MORE Act, which is anchored on the CREATE Act of 2021 to further strengthen fiscal and non-fiscal incentives in strategic industries, he said.
The Philippine manufacturing sector continues to flourish despite global challenges, President Marcos said, citing indicators such as the sustained Purchasing Managers’ Index growth proving that with a strong foundation, industries can flourish even in uncertain times.
He also mentioned the chemicals industry as one of the largest sub-sectors in the manufacturing industry, a major pillar supporting various sectors like agriculture, automotive, cement, creative, construction, energy, health, and pharmaceutical.
The industry is considered by the government as a major contributor to economic growth and job generation in the foreseeable future.
President Marcos arrived in Laos Tuesday to participate in the 44th and 45th Association of Southeast Asian Nations (ASEAN) Summit and Related Summits.
He addressed the ASEAN Business and Investment Summit, a major regional annual gathering that brings together world leaders, ASEAN representatives, and other relevant stakeholders to discuss the pressing issues in the region.
It also explores ways to ensure equal and sustainable distribution of the benefits of ASEAN’s thriving economy.
Meanwhile, the President called on ASEAN to boost the connectivity and resilience in the region by confronting other complex challenges ahead.
He emphasized the need for ASEAN member-nations to work hand-in-hand in bolstering the region’s digital economy, food security, tourism, and women empowerment and gender equality.
President Marcos also cited the importance of working together to mitigate the effects of climate change.
For digital economy, the President said they should lay the groundwork for a safe and trusted digital environment that can propel ASEAN into a new era of innovation, growth and opportunity.
The President said they should invest in robust cybersecurity protection, equip its people with digital skills and secure its digital infrastructure as the ASEAN Digital Economy Framework Agreement (DEFA) is poised to boost the region’s digital economy to US$2 trillion by 2030.
In terms of food security, President Marcos said ASEAN members must adopt sustainable agricultural practices to boost the food systems in the region amid threats caused by supply chain disruptions, economic shocks, and weather disturbances.
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