TOKYO, Japan — "When you think growth, think 'Philippines.'"
This was how President Ferdinand "Bongbong" Marcos Jr. closed his speech at the Philippine Business Opportunities Forum here, his last public bid to woo Japanese businessmen into choosing the Philippines as an investment destination.
In his speech, the President said he believed that he had a successful meeting with Japanese businessmen as his delegation was able to listen to them and ask them what the government could do to improve the Philippines' business climate.
"I think, in that regard, this has been a very successful meeting. It warms my heart to see a room full of many of our friends from Japan who are here to hear about the latest updates on our economy," he said.
In an attempt to seal the deal with Japanese investors, Marcos listed down how the government moved to keep investors in the Philippines. This included having an enabling policy environment wherein the President cited the amended Public Service Act, the amended Retail Trade Liberalization Law, and the Strategic Investment Priority Plan as examples.
He likewise noted the Philippines' demographic advantage, particularly its young, educated, and hardworking English-speaking workforce that puts the country in a strong position to be competitive on the global stage.
"This complements Japan's development strategy, given its older demographic, of tapping human resources from outside its borders to meet the labor requirements for its enterprises," he said.
"We are harnessing this strength by investing more in education and social services for our people," he added.
President Marcos also mentioned the government's constant effort to upskill and reskill the workforce to keep them globally competitive.
"With our efforts towards maintaining a sound, macroeconomic profile, providing business-enabling policies, and investing in big-ticket infrastructure projects, I hope we are sending the clear message that the business is open for business and that the Philippines means business," he said.
The President then thanked the Japanese government for being one of its longstanding economic and strategic partners.
"Japan has been a steadfast partner of the Philippines, being one of the largest sources of trade, investment, official development assistance, and remittances. In return, on top of the world-class hospitality the Philippines has accorded Japanese investors, a reliable and high-quality workforce, and a stable macroeconomic environment conducive to growth," he said.
"I would like to thank Japan for being the long-standing economic and strategic partner that you have been, and Japan as a friend for the Philippines. You have played a major role in the Philippines' socio-economic transformation over the past decades," he added.
Marcos hoped that the two countries would continue nurturing this partnership.
"As we go along our development journey, I invite all of you to continue and enhance that partnership," he said.
"When you think growth, think Philippines, so that together, we will reap the benefits of robust, sustainable, and inclusive growth for our businesses and for our peoples. Let's make it happen in the Philippines," he added.