MANILA: The administration of President Ferdinand R. Marcos Jr. is exhausting all efforts to turn the Philippines into a ‘prime investment hub’ where businesses will thrive, Department of Budget and Management (DBM) Secretary Amenah Pangandaman said.
During the Philippine Dialogue in Washington DC late Wednesday night (Manila time), Pangandaman outlined the Marcos administration’s policies and budget priorities to make the Philippine economy an attractive magnet for foreign investments.
‘As you can see, we are going above and beyond in making the country a prime investment destination. This is because we are motivated by the President’s determination for Bagong Pilipinas (New Philippines) – a Philippines of new and better opportunities – where your investments will all be worthwhile,” she said.
Pangandaman cited the current administration’s commitment to strengthening its development thrust through government-led programs and the allotment of the necessary budget to address the needs of the Filipino people
.
The government, she said, has a ‘very good roadmap’ to propel economic growth in the Philippines.
“We started this administration very strong, and we are committed to finishing even stronger. We have a very good road map – our Philippine Development Plan (and) our Medium-Term Fiscal Framework, which has been approved by both houses, the House of Representatives and the Senate of the Philippines,’ Pangandaman said.
‘Rest assured that our budget will continuously respond to the most urgent needs of our countrymen.”
The Philippine Dialogue is a private conversation between economic managers and stakeholders from the Philippines with a base in the United States (US).
The dialogue covered the Philippines’ macroeconomic landscape, key economic and legislative reforms, investment priorities, and other initiatives aimed at improving the business climate in the country.
Other Philippine officials who attended the event were Department of Finance (DOF) Secretary Ralph Recto, Socioeconomic Planning Secretary Ars
enio Balisacan, and Bangko Sentral ng Pilipinas (BSP) Deputy Governor Francisco Dakila, Jr.
The event was also attended by about 90 senior executives and representatives of US-based corporations and financial communities.
Also present were HSBC Global Banking and Markets and Public Sector Banking chairperson Michael Ellam; Citi Corporate and Investment Banking vice chairperson Jay Collins; and Citi managing director and head of the Public Sector Group in Asia Pacific Michael Paulus.
The Philippine Dialogue was organized by several institutions, among them the BSP, BofA Securities, Citi, the DOF, the Philippine Embassy in Washington DC, HSBC, JP Morgan, Morgan Stanley, Standard Chartered Bank, and UBS.
Source: Philippines News Agency