Manila: Inflows of foreign direct investments (FDIs) to the Philippines are expected to remain robust vis- -vis the supportive government measures, an official of a business group said Monday.
According to Philippines News Agency, Federation of Philippine Industries (FPI) chair Elizabeth Lee expressed strong optimism regarding FDIs and anticipates their successful materialization. In a Viber message, Lee commented on President Ferdinand R. Marcos Jr.'s fourth State of the Nation Address (SONA), describing it as 'well delivered' due to its strategic focus on core issues such as food security, flooding, electricity supply, public health, and education.
Lee emphasized that these fundamental areas address the everyday concerns of the Filipino people and contribute to a more resilient citizenry and workforce, which she considers crucial for businesses. The FPI praised the government's commitment to inclusive growth, rural development, and industrial revitalization, highlighting the support extended to 2.5 million families in starting micro-businesses. The group urged deeper integration of these small enterprises into the national manufacturing and supply chains.
The expansion of Kadiwa markets and measures against 'economic sabotage' by profiteers and smugglers were also commended as vital to stabilizing prices and protecting both producers and consumers. The FPI supports initiatives like planting 15 million coconut trees and implementing the Coconut Farmers and Industry Trust Fund Act as a foundation for rural agro-industrial growth.
The FPI noted the government's strategic investment plan to construct 200 power plants for 2,000 factories, addressing longstanding energy bottlenecks. The group also welcomed the scaling of the Net Metering Program to promote affordable and sustainable energy access.
Furthermore, the FPI backed transparency measures in the infrastructure program, emphasizing the importance of auditing and publishing flood control projects and exposing erring contractors. The group also strongly endorsed the President's commitment to rejecting budget items not aligned with government priorities, underscoring the significance of fiscal discipline and policy alignment for long-term impact.
