Berlin, Germany
March 12, 2024

“Let us embark on a journey of strengthened economic ties, mutual growth and shared success… Together with you as our strategic partner, we can make investments happen in the Philippines,” conveyed President Ferdinand R. Marcos Jr. as he addressed the German business community in a forum aimed at promoting the Philippines as a thriving investment hub in Southeast Asia.

The President assured the German business leaders of the continuous growth of the country’s investment climate, which will be beneficial in terms of strengthening economic engagements between their nations. He urged them to continue thinking of the Philippines as a reliable partner that can support market expansion and operation, highlighting its strong economic outlook with a recorded gross domestic product (GDP) growth rate of 5.6% in 2023.

He reiterated the government’s steadfast commitment to create purposeful reforms through key legislative investments in order to attract more strategic investments in the country.

Furthermore, he shared that the government has undertaken various amendments to existing laws that will cater to the ease of doing investments in the country. These include the Public Service Act (PSA), Foreign Investments Act (FIA), Retail Trade Liberalization Act (RTLA) and the Renewable Energy (RE) Act. These are also coupled with streamlined business registration, infrastructure development and the Comprehensive Tax Reform Program.

“As the biggest economy in the EU, both in GDP and population, and a global force in technology and innovation, Germany is certainly one of the countries where we look forward to further fostering strong business partnerships and collaboration between our nations,” President Marcos Jr. expressed.

“The members of my economic team will ensure that the support needed for growing your investments is extended timely and comprehensively,” he ended in his message.

* * *