WITH economic liberalization policies already in place, President Ferdinand R. Marcos, Jr. said the country has already entered “a new era for investments.”
The chief executive made the remark during his keynote address at the World Economic Forum (WEF) Country Roundtable on the Philippines in Malacañang on Tuesday.
“We are actively focusing our policies on galvanizing foreign investments to generate a broadly beneficial investment boom,” Marcos said.
“Now, international firms are welcome to invest in a wider range of high-impact sectors, form joint ventures with Filipinos, or even fully own domestic enterprises and select renewable energy projects,” he added.
He highlighted the country’s significant economic growth, mass infrastructure projects, and policies, which provide an “enabling environment for PPP (public private partnership)” in a bid to encourage the 60 WEF event participants from local and international companies and organizations to invest in the country.
Also part of his pitch is the Maharlika Investment Fund (MIF), which he said “is designed to serve as a magnet for equity financing from abroad and a vehicle for driving long-term growth without compromising efforts towards fiscal consolidation.”
“Clearly, the Philippines is in a prime position to enter into a sustained period of robust economic expansion over the next couple of years,” the President said.
“I extend an invitation to our guests and partners here today to join us in this exciting new phase. The members of the economic team are here today ready to discuss those opportunities that I speak of in greater depth,” he added.
Despite the endorsement from the President, the MIF failed to generate much interest at the WEF round table event.
“The President and CEO of the Maharlika Investment Fund was at the conference but not particularly, nothing in particular for this forum,” President for Investment and Economic Affairs Frederick D. Go said when asked if any firm expressed interest in the MIF.
The Marcos administration is eyeing to use the MIF to get investments on renewable energy, agro industry, and infrastructures among others.
Image credits: Troi Santos