Philippines to become world’s top investment destination – Duterte

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President Rodrigo Duterte vowed to pursue fiscal and economic reforms as his administration’s approach to make the country the world’s top investment destination of choice.

Mr. Duterte told the media upon his arrival at the Davao International Airport Wednesday (Nov. 23) night, that he highlighted this during the Asia-Pacific Economic (APEC) Leaders’ Meeting in Lima Peru, where he engaged with foreign and business leaders.

Fresh from his participation in the APEC, President Duterte said the Philippines is on
track with unparalleled trajectory of growth but this can only be sustained when everyone works hard together.

“If not surpass, what the Philippines so far has achieved to improve the ease of doing business, suppress criminality and eliminate corruption,” he said, describing the Philippines’ presence and participation in APEC as an economic necessity.

In the review of economic goals, the President said leaders of world economies agreed APEC has helped spur growth in trade although there was keen awareness that free trade must benefit, not only the big businesses. 

He said the Philippines’ position was to go beyond free trade and instead focus on economic and trade policies that must immediately yield benefits for the country’s Micro, Small and Medium Enterprises (MSMEs) that form the backbone of APEC economies.

For MSMEs to become global players, the President said the government must provide a supportive policy framework that ensure an economic environment for all businesses to thrive.

He vowed that his administration will work towards providing supportive policy framework and to make sure that economic growth will be felt by all.

According to him, the Philippine delegation spelled out priority areas for economic cooperation and investments. He said they also explored opportunities that will open up avenues for sharing knowledge and expertise, forge linkages and learn best practices.

He also highlighted the importance of law enforcement, creating, enabling a safe and secure business environment. (PNA)

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