PNoy tells Japanese traders now's the best time to invest in PHL

“There is no better time to set up shop in the country.”

 

President Benigno Aquino III on Thursday encouraged Japanese businessmen to invest in the Philippines and trumpeted his administration’s economic gains since taking over the helm of government in 2010.

 

Aquino is now in Japan for a four-day state visit that began on Tuesday.

 

In a speech at the Philippine Investment Forum in Tokyo, Aquino said reforms introduced by his administration have resulted in a favorable business climate in the Philippines.

 

“We have leveled the playing field, improved the quality of infrastructure, and vastly minimized corruption in doing business,” the Philippine leader told Japanese investors.

 

The economic growth and investment grade ratings the Philippines has gained so far show that now is the best time for investors to “bet on the Philippines,” he added.

 

“The Philippines as an investment destination is more attractive today than at any other point in our history. We can further deepen, or forge partnerships in which all parties benefit,” he said.

 

The President made these statements a week after the government announced that the Philippines posted a slower 5.2-percent economic growth in the first quarter of 2015, primarily due to low government spending, weak global demand and frail agriculture sector.

 

'Game development'

 

Aquino particularly urged Japanese businessmen to invest in manufacturing, information technology and infrastructure in the Philippines.

 

The Philippines is looking at venturing into other fields like legal transcription, accounting, engineering services, and even animation, he said.

 

“Game development is another area we are looking to develop – and I am certain that Japanese creativity, innovation, and technological prowess can help us to maximize this sector,” Aquino said.

 

To support Japanese investments, the President said his administration will continue to ensure steady power supply and to build more infrastructure projects, particularly ports and airports.

 

“The improvement of sectors like power and infrastructure has indeed redounded to the Philippines’ increased competitiveness. At the same time, we continue to believe that the most important sector –the most important resource – we can invest in is the Filipino people,” he said. – Andreo Calonzo/VS, GMA News