Mga lokal at dayuhang negosyante, muling inimbitahan ni PBBM na mamuhunan sa Pilipinas;
Mga lokal at dayuhang negosyante, muling inimbitahan ni PBBM na mamuhunan sa Pilipinas;
Phl, handa sa expansion ng anumang negosyo ayon sa Pangulo
Phl, handa sa expansion ng anumang negosyo ayon sa Pangulo
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NewsTranscript
00:00 President Ferdinand R. Marcos Jr. invited foreign businessmen to visit the country.
00:06 According to the President, the Philippines will make changes to strengthen its investment hub.
00:15 And as well as that, the Philippines will improve their ability.
00:19 Kenneth Paciente is in the center of the news.
00:24 In the visit of President Ferdinand R. Marcos Jr. to the World Economic Forum Country Roundtable held in the country,
00:31 he invited the local and national companies and organizations to consider the Philippines as a place of development.
00:38 Clearly, the Philippines is in a prime position to enter the sustained period of robust economic expansion over the next couple of years.
00:48 According to the President, the Philippines is ready for the expansion of any business,
00:52 especially the previous discussion that the Philippines' potential as the strongest performing Southeast Asian economy has already bear fruit.
00:59 If the executive branch grows, after 10 years, the Philippines' economy will be one of the strongest in Asia.
01:06 The country's growth performance was largely driven by the resiliency of domestic demand,
01:12 an impressive feat against the backdrop of elevated prices and overlapping crises in the global market.
01:20 It comes as no surprise that investments, particularly in durable equipment and public construction,
01:27 emerged as a key driver of our full-year growth.
01:31 The executive branch also made any potential investor's aspirations come true
01:36 because it has set many milestones that the administration is working on
01:40 to maintain and improve the country's investment-led growth.
01:45 Infrastructure development is also one of the areas where the government is targeting the 185 infrastructure flagship projects
01:53 that are worth P9 trillion or US$163 billion.
01:58 These projects, which offer high rates of return and enjoy streamlined processes,
02:03 target strategically important sectors for sustainable development,
02:07 such as physical and digital connectivity, agriculture, energy, health, and climate-resilient infrastructure.
02:15 The President also encouraged the speedy process of investments, whether local or foreign,
02:20 because it will implement the ease of doing business and the green lanes set for strategic investments.
02:27 This directly addresses binding constraints to investments that have long impeded the flow of capital into the country.
02:35 A sustainable future will not be shaped by siloed thinking and short-term policymaking.
02:42 With the advent of the fourth industrial revolution,
02:46 we have reformed our corporate income tax structure and fiscal incentive system
02:52 to attract investments in strategically important industries.
02:56 The President also mentioned the creation of Corporate Recovery and Tax Incentives for Enterprises, or CREATE Act,
03:02 which is being placed in the Philippines as a strategic hub for high-quality investments.
03:07 Through the extension of longer income tax holidays and increased income tax deductions,
03:13 the President also expanded the country's first sovereign fund.
03:18 The Maharlika Investment Fund is designed to serve as a magnet for equity financing from abroad
03:24 and a vehicle for driving long-term growth without compromising efforts towards fiscal consolidation.
03:30 The government also did not allow the largest asset of the country, the workers.
03:36 It serves the interest of both the private side and the public side
03:41 that this continuous training and upskilling of our workers is conducted.
03:53 Not only so that they are able to work in the areas that are important in the new economy,
04:04 but also because we have a very significant part of our economy that is dependent on our overseas workers.
04:13 And for them to be able to compete properly in the international labor markets,
04:20 those specialized skills that we are seeing are necessary.
04:27 They must have that skill set so as to be able to compete.
04:32 The Philippines also strengthened its economic ties with other countries
04:36 to help in the inclusive cooperation of the Indo-Pacific Economic Framework for Prosperity,
04:43 ASEAN-Australia-New Zealand Free Trade Agreement, and the Regional Comprehensive Economic Partnership.
04:48 But all this is a mere glimpse into the world of opportunities lying in wait here
04:54 in one of the fastest growing economies in the world.
04:57 I extend an invitation to our guests and partners here today to join us in this exciting new phase.
05:04 And I sincerely hope that today's event will serve as a fertile ground
05:09 on which new and stronger partnerships will take root and flourish.
05:14 Kenneth Paciente.
05:16 for Pambansang TV in the new Philippines.