Marcos: Indo-Pacific investors to help boost PH businesses

President Ferdinand "Bongbong" Marcos Jr. on Tuesday expressed confidence that investors from the Indo-Pacific would help in the expansion of Philippine businesses.

Marcos made the remark during the Indo-Pacific Business Forum.

"With micro, small, and medium enterprises (MSMEs) at the heart of the Philippine economy and for that matter at the heart of the economies in the Indo-Pacific, we equip them with  necessary tools to become a sustainable business," Marcos said in his speech.

"We believe that Indo-Pacific investors have the potential to contribute significantly to the expansion of such businesses," he added.

Marcos vowed that his administration remains at the forefront of actively promoting the Philippines as a prime investment destination in the Indo-Pacific region by using various strategic partnerships.

Among the strategic partnerships include the Free Trade Agreements (FTAs) and the Generalized System of Preference (GSP), according to Marcos.

“Through our ties with different countries, our nation enjoys access to various markets, including the ASEAN market, the Regional Comprehensive Economic Partnership (RCEP), [and] the Philippines-Japan Economic Partnership Agreement (PJEPA), among others,” Marcos said.

“These agreements underscore our commitment to fostering economic growth and international cooperation. With RCEP, investors can access other markets from RCEP countries by manufacturing and exporting their products from the Philippines,” he added.

Marcos also said the Philippines aims to be a regional center for smart and sustainable manufacturing and services.

"Through these economic strengths, we aspire to transform the Philippine economy into a regional hub for smart and sustainable manufacturing and [services]," he said. — VDV/RSJ, GMA Integrated News