MANILA, PHILIPPINES – President Ferdinand R. Marcos Jr. affirms the Philippines’ status as a “reliable partner” and urges German business executives to maintain their investments in the country on Tuesday.
Speaking at the Philippine-German Business Forum in Berlin, Marcos emphasized the importance of “purposeful reforms” through key legislation that further accelerated the nation’s economic growth.
“I invite esteemed German business leaders to keep in mind the Philippines as a reliable partner that can support your market expansion and operations,” Marcos said.
“We remain steadfast in our commitment to purposeful reforms, evident in key legislative amendments,” he added.
The President then enumerated recently enacted laws and amendments that “mark a new era for strategic investments,” such as the Public Service Act, Foreign Investments Act, Retail Trade and Liberalization Act, and Renewable Energy Act.
“Coupled with streamlined business registration, infrastructure development, and the Comprehensive Tax Reform Program, the CREATE Act, these reforms position the Philippines as one of the fastest-growing economies in Asia,” Marcos said.
In addition, he brought up the Maharlika Investment Fund, stating that this sovereign wealth fund demonstrates the Philippines’ commitment to funding important initiatives and promoting socio-economic impact.
He cited Executive Order No. 18 s. 2023, which establishes green lanes for strategic investments sim, simplifies procedures, and reduces bureaucratic hurdles a potential investor might face.
Marcos thanked Germany for its continuing confidence in the Philippines as a partner in the Asia-Pacific and the ASEAN region.
“We are grateful for the interest of German companies to support the Philippines’ commitment to sustainability and climate resiliency through the renewable energy investments that we received and were accounted as the top sector from Germany in 2023,” he said.
Furthermore, he pushed for the Philippines to host the largest German networking event in the region, the Asia-Pacific Conference of German Business.
The President is on a three-day working visit in Berlin. In order to strengthen bilateral ties, he met with German Chancellor Olaf Scholz before the economic event.
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