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Manila Bulletin devider Philippines devider National devider Romualdez agrees with PBBM's positioning of Philippines as 'premier investment hub' 

Romualdez agrees with PBBM's positioning of Philippines as 'premier investment hub' 

Published May 29, 2024 07:23 am

At A Glance

  • House Speaker Martin Romualdez has backed President Marcos' efforts to sell the Philippines as a "premier investment hub". 

20230504_144300.jpgPresident Ferdinand "Bongbong" Marcos Jr. (left), House Speaker Martin Romualdez (Speaker’s office)

 

 

 

 

 

 

 

 

House Speaker Martin Romualdez has backed President Marcos' efforts to sell the Philippines as a "premier investment hub". 

The Speaker made this commitment as he accompanied Marcos in the Philippine Business Forum Wednesday morning, May 29 at the Berkshire Hall of the Royal Brunei Polo and Riding Club in Bandar Seri Begawan.

Romualdez is part of the Philippine delegation to Marcos' two-day state visit to Brunei. 

"President Ferdinand R. Marcos, Jr. has made significant strides during his state visit here in Brunei to showcase the Philippines as an attractive destination for investments. The House of Representatives is fully committed to supporting these efforts, recognizing the vital role that foreign investment plays in our nation's progress," he said.

"By promoting our country as a premier investment hub, President Marcos is not only attracting foreign capital but also paving the way for job creation and economic prosperity for our people," said the Speaker. 

In his keynote address during the business forum, Marcos noted the great potential for mutually beneficial partnership between the Philippines and Brunei in sectors such as agribusiness, renewable energy, and Halal industry development, among others. 

Marcos told Brunei business leaders that the Philippines instituted reforms that liberalized foreign ownership in various sectors through the passage of key landmark legislations such as the Retail Trade Liberalization Act, the Foreign Investments Act, the Public Services Act, the Renewable Energy Act, Public-Private Partnership (PPP) Code of the Philippines, Internet Transactions Act and the Tatak Pinoy Act or the “Proudly Filipino” Act. 

He likewise cited the CREATE MORE (Maximize Opportunities for Reinvigorating the Economy) Bill, passed by the House on the third reading in March this year, which aimed to strengthen the Philippines’ fiscal and non-fiscal incentives to encourage investments in the Philippines' strategic priority industries. 

He also mentioned the creation  of the Maharlika Investment Fund (MIF) and the signing of Executive Order (EO) No.18, which established green lanes for strategic investments.

"We are confident that with the President's leadership and the collective effort of the government, the Philippines will achieve sustained economic growth and become a leading investment destination in the region," Romualdez said.

 

'Resounding success'   

Romualdez, Leyte's 1st district representative, praised Marcos for his successful diplomatic engagements and for securing key agreements that are poised to benefit the Philippines' economic and strategic interests. 

"President Ferdinand R. Marcos, Jr.'s state visit to Brunei has been a resounding success, marked by significant achievements that will undoubtedly bolster our nation's economic and diplomatic standing," he said. 

"The House of Representatives extends its heartfelt congratulations to the President for his adept leadership and vision in fostering closer ties with Brunei," added Romualdez, leader of the 300-plus strong House of Representatives. 

During the visit, Marcos held high-level meetings with Brunei's Sultan Haji Hassanal Bolkiah and other key government officials, resulting in the signing of several important agreements. 

Romualdez highlighted the importance of this diplomatic milestone, noting that it reflects the government's commitment to building strong international partnerships and advancing the nation's economic agenda. 

"We are proud of President Marcos' achievements during this state visit, which reinforce our collective efforts to achieve sustainable development and improve the quality of life for all Filipinos." 

Earlier, the Speaker reiterated the commitment of the House of Representatives to continue to work closely with the executive branch to ensure the successful realization of President Marcos' dream of a better life for all Filipinos. 

Following his state visit to Brunei, President Marcos is set to participate in the International Institute for Strategic Studies-Shangri-La Dialogue in Singapore on May 31 to June 1. President Marcos, Jr. will deliver the keynote address during the opening dinner of the dialogue on May 31. 

Related Tags

BRUNEI Martin Romualdez President Marcos
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