President Ferdinand 'Bongbong' Marcos Jr. on Wednesday compel foreign investors and chief executive officers (CEOs) to choose the Philippines as their investment destination.
He extended the invitation during his keynote address at the 10th Asian Summit in Singapore.
In his address, Marcos touted several advantages that foreign investors may reap once they invest in the country, such as "incentives, tax breakers, and robust legal frameworks" that safeguard their interest, and assured them that their intellectual property rights are protected.
"I invite each one of you to consider the Philippines as a strategic partner in your journey... I invite you to explore the Philippines as a destination for investment," the President said.
The Chief Executive also put forward the recently launched Maharlika Investment Fund (MIF) also known as the sovereign wealth fund.
"The fund is designed to consolidate investible funds from government financial institutions to further drive economic development through strategic investment, both domestically and overseas," he said.
Marcos also outlined to foreign investors the investible opportunities in country's infrastructure, energy development, agriculture, as well as in healthcare.
“This will go into infrastructure, into power development. Again, those main elements are healthcare, all of the areas that we have identified as priorities,” the President said.
“So, to make a list, it’s really — for us it’s agriculture, it’s energy, it’s ease of doing business, it is also the tax structure that we have to transform," he added.
On the sidelines of the Asian Summit, Marcos will meet business leaders from various industries.
He is also expected to attend and watch the high-class international racing event, Formula One (F1) Singapore Grand Prix 2023, upon the invitation of Singaporean Prime Minister Lee Hsien Loong.
