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Manila Bulletin devider Philippines devider National devider 'Springboard' for more investments: Romualdez hypes up regional business forum to be held in Manila 

'Springboard' for more investments: Romualdez hypes up regional business forum to be held in Manila 

Published Apr 13, 2024 07:15 am

At A Glance

  • House Speaker Martin Romualdez only foresees good things for the Philippines and Filipinos with the upcoming 6th Indo-Pacific Business Forum (IPBF) next month.

IMG-a28f949270b6e2b402e94338accb8f9b-V.jpgHouse Speaker Martin Romualdez (Speaker’s office)

 

 

 

 

 

 

 

 

House Speaker Martin Romualdez only foresees good things for the Philippines and Filipinos with the upcoming 6th Indo-Pacific Business Forum (IPBF) next month. 

This developed after President Marcos extended his invitation to top business leaders in the United States (US) to participate in the event in Manila during his keynote address at the Philippine-US Business Forum Friday afternoon (US Time), April 12 in Washington, DC. 

"I am confident that the 6th [IPBF] will serve as a springboard for increased investment inflows into the Philippines," said Romualdez, leader of the 300-plus strong House of Representatives. 

"By bringing together key stakeholders to discuss critical issues and explore collaboration opportunities, we aim to propel the country's economic growth and development to new heights, creating more jobs and livelihood opportunities for our people," he added. 

The Philippine-US Business Forum was held on the sidelines of the historic trilateral meeting between US President Joe Biden, Japanese Prime Minister Fumio Kishida, and Marcos. The Speaker accompanied Marcos to the summit. 

Slated to be held in Manila on May 21, the 6th IPBF is expected to bring together some 500 business leaders, project developers, government officials, and financing sources. Among the topics to be discussed are infrastructure, supply chain resilience, critical minerals, clean energy, the digital economy, emerging technologies, and inclusive trade. 

The US Trade and Development Agency (USTDA) and the Philippine government will co-host the 6th IPBF in Manila in partnership with the US Department of State. 

In his remarks during the PH-US Business Forum, Marcos assured American business leaders of continuing efforts for a more investment-friendly environment in the Philippines, including key legislations such as the Public Services Act (PSA), the Retail Trade Liberalization Act, the Foreign Investments Act, and the implementing rules and regulations (IRR) of the Renewable Energy Act. 

He said these reforms have opened the country’s sectors of manufacturing, transportation, telecommunication, shipping, renewable energy such as wind, solar, and tidal, and the retail sector to foreign investors. 

Romualdez said the forthcoming IPBF gathering in Manila underscores our country's growing prominence as a hub for business and investment in the dynamic Indo-Pacific region. 

He added that the forum will not only showcase the Philippines' investment potential but also strengthen ties with international partners and facilitate the exchange of best practices in various sectors. 

“The House of Representatives will continue working hand in hand with the administration of President Marcos towards the realization of his vision for the Philippines to achieve upper-middle income economy status by the start of the next decade,” Romualdez said.

 

Related Tags

trilateral summit Martin Romualdez President Marcos Indo-Pacific Business Forum
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