Speaker Ferdinand Martin G. Romualdez on Thursday expressed strong optimism for increased foreign investments in the Philippines following President Ferdinand R. Marcos Jr.’s compelling presentation of the country as an ideal investment destination.
In his address before the Association of Southeast Asian Nations (ASEAN) Business and Investment Summit in Laos on Wednesday, President Marcos outlined the Philippines’ strategic position as a growing economy in Southeast Asia, offering a wide range of opportunities in various sectors such as manufacturing, infrastructure, technology and sustainable energy.
Speaker Romualdez said more foreign investments would spur the creation of decent-paying jobs for Filipinos, open opportunities for local businesses, and generate additional revenues to fund key programs on education, infrastructure and agriculture, among others.
“The President’s presentation at the ASEAN Business and Investment Summit sends a clear signal that the Philippines is open and ready for business. His emphasis on the country’s competitive advantages has positioned us at the forefront of investment opportunities in the region,” said Speaker Romualdez, leader of the 300-plus strong House of Representatives.
“We are confident that the results of his pitch will be seen soon as businesses respond to the opportunities that our country offers,” he added.
Speaker Romualdez reaffirmed the commitment of the House of Representatives to support the legislative agenda of the administration of President Marcos to further enhance the country’s investment climate.
“We remain committed to working with President Marcos’s administration’s initiatives to provide a more conducive environment for foreign investments as part of the broader goal of achieving inclusive and sustainable economic development for the Filipino people,” he added.
According to Speaker Romualdez, the President’s engagement with the ASEAN business community will likely lead to a surge in foreign direct investments (FDI) that could further strengthen the country’s economic trajectory.
“Foreign investors are now looking at the Philippines with fresh eyes, especially given our efforts to improve infrastructure, digitalization, and ease of doing business,” he said.
“These investments will bring in capital that will drive new projects, create thousands of jobs for Filipinos, and spur economic growth across multiple industries. From manufacturing to IT services and tourism, we foresee major boosts in both local enterprises and the labor market,” Speaker Romualdez added.
Moreover, Romualdez highlighted how foreign investments could also lead to the transfer of technology and skills, benefitting Filipino workers and entrepreneurs.
“Our people stand to gain from the innovation and expertise brought in by global companies. This will not only enhance our workforce’s competitiveness but also provide Filipino businesses with access to international markets and cutting-edge technologies,” he said.
Speaker Romualdez said President Marcos’ active participation in the 44th and 45th ASEAN Summits reinforced the Philippines’ commitment to fostering strong economic ties within ASEAN and beyond, which aligns with the government’s goal to position the country as a central hub for commerce and innovation in the region.
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