Marcos to Indian businesses: PH investment environment most open, liberal

President Ferdinand ''Bongbong'' Marcos Jr. on Wednesday wooed Indian business leaders to invest in the Philippines, saying that the country is committed to support current and prospective Indian investors.

At a roundtable meeting in New Delhi, Marcos said the Philippines' ''investment environment is the most open and liberal that it has ever been.''

''Our discussions today have demonstrated the strength of our strategic partnership, especially in trade and investment. They certainly show how far we have come and how much more we can achieve if we continue to work together in a spirit of cooperation and shared prosperity,'' Marcos said. 

''The Philippines and India are natural economic partners. We are two of Asia's fastest-growing economies. We are powered by a youthful, skilled population. Moreover, we are both committed to building resilient, innovation-driven economies that deliver opportunities for our peoples,'' he added.

Marcos said he directed the Department of Trade and Industry to work closely with their Indian counterparts to convene the joint working group on trade and investment at the earliest opportunity.

''And we have just again with the discussion we were having, is to decide, is that we will, not only are we going to organize a joint working group on trade and investment, but we will also probably granulate that down to industry specific working groups so that they you are—you're talking apples to apples, oranges to oranges,'' he said.

''And of course, the government will be there to take notes and to understand what is needed by both sides to make all of these things happen,'' Marcos added.

He also tasked the DTI to lead Philippine efforts towards a Philippine-India Preferential Trade Agreement, which will lay a strong foundation for deeper, more predictable and mutually beneficial economic integration. — BM, GMA Integrated News