November 19, 2022
President Ferdinand R. Marcos Jr. engaged in a dialogue with major Thai business executives in a roundtable meeting on the final day of his visit to Bangkok where he participated in the 29th Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting.
The meeting focused on the Philippines’ economic agenda where President Marcos Jr. pushed to expand investment opportunities and promoted the country’s quality exports.
He also cited key economic reforms made by his Administration to increase the Philippines’ appeal to foreign investors as the nation is open for business, according to Department of Trade and Industry (DTI) Secretary Alfredo Pascual in a report by the Office of the Press Secretary (OPS).
To entice investors, the government amended the Public Service Act, Foreign Investment Act and the Retail Trade Liberalization Act, as well as enacted the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, giving President Marcos Jr. the ability to ‘design support packages for highly desirable projects’.
During the roundtable meeting, executives of Thai business industries conveyed their interest to invest in the Philippines in the sectors of transportation, tourism and food security.
The attendees from the Philippine side included Ambassador Millicent Cruz Paredes, DTI officials, members of the APEC Business Advisory Council (ABAC)-Philippines and several representatives of Philippine companies with presence in Thailand.
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