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Manila Bulletin devider Philippines devider National devider Cambodia business execs note improved PH investment climate --- Speaker Romualdez

Cambodia business execs note improved PH investment climate --- Speaker Romualdez

Published Nov 10, 2022 03:08 pm

House Speaker Martin Romualdez joined President Ferdinand “Bongbong” Marcos, Jr. and other Philippine officials and businessmen during a roundtable meeting with Cambodia business leaders on Thursday, Nov. 10

President Ferdinand Marcos, Jr., Speaker Martin Romualdez, and other members of the Philippine delegation during their meeting with Cambodian business leaders at the Hyatt Regency Hotel in Phnom Penh, Cambodia on Thursday, Nov. 10, 2022. (Photo from Speaker’s office)

Seated beside Marcos, Romualdez represented the House of Representatives in the discussions between Marcos and several chief executive officers of Cambodia.

Marcos is currently in Phnom Penh to attend the 40th and 41st Association of Southeast Asian Nations (Asean) Summits – his first as president of the Philippines.

Romualdez is expected to accompany Marcos, his cousin, at the summit and other related dialogues slated until Sunday, Nov. 13.

He said the House of Representatives supports the Marcos administration's programs to attract more foreign direct investments that will revitalize the Philippine economy.

“We would study needed refinements in our laws, regulations, and government policies so as to further attract foreign investments and create more jobs for Filipinos,” he said.

The Speaker’s office shared in a statement that Cambodian business leaders are keenly interested in the Philippines following the country’s “improved climate for investments.”

On Thursday, President Marcos told the Cambodian business leaders that his administration appeared to have steered the Philippine economy in the “right direction”, amid the external forces hampering its growth.

READ: PBBM pitches for investment in PH to Cambodian CEOs

“It looks like the route that we have taken is taking the economy in the right direction,” the Chief Executive said.

Marcos noted that the Philippine economy, as measured by the gross domestic product (GDP), has grown by 7.6 percent from July to September, faster than the 7.5 percent expansion in the second quarter of this year.

The National Economic and Development Authority (NEDA) reported the country remains on track to achieving the government's growth target of 6.5 to 7.5 percent for 2022.

Joining the two officials in the meeting were Department of Trade and Industry (DTI) Secretary Alfredo Pascual, Department of Social Welfare and Development (DSWD) Secretary Erwin Tulfo, and Philippine Ambassador to Cambodia Maria Amelita Aquino.

Also present were Go Negosyo founder Joey Concepcion, who is the chairman of the ASEAN Business Advisory Council (BAC) for the Philippines, George Barcelon (ASEAN BAC PH member), Felta Multi-Media Inc. Chief Executive Officer (CEO) Mylene Abiva, Home Healthlink Innovations, Inc. CEO Shiela Marie Acosta, Esquire Financing CEO Rajan Uttamchandani, and CEO and President of Philippine Blue Cross Biotech Corp. Benito Techico.



Related Tags

ASEAN Summit cambodia PH economy investments Business meeting Martin Romualdez President Marcos
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