MANILA: President Ferdinand R. Marcos Jr. on Tuesday assured the Philippines is a 'reliable partner' as he encouraged German business leaders to continue investing in the country. Speaking at the Philippine-German Business Forum in Berlin, Marcos highlighted 'purposeful reforms' through key legislations that helped the country further drive economic development. 'I invite esteemed German business leaders to continue to keep in mind the Philippines as a reliable partner that can support your market expansion and operations,' Marcos said. 'We remain steadfast in our commitment to purposeful reforms, evident in key legislative amendments,' he added. The President then enumerated recently enacted laws and amendments that 'mark a new era for strategic investments,' such as the Public Service Act, Foreign Investments Act, Retail Trade and Liberalization Act, and Renewable Energy Act. 'Coupled with streamlined business registration, infrastructure development, and the Comprehensive Tax Reform Program, the CREAT E Act, these reforms position the Philippines as one of the fastest-growing economies in Asia,' Marcos said. He also mentioned the Maharlika Investment Fund, saying the sovereign wealth fund underscores the Philippines' dedication to financing priority projects and driving socioeconomic impact. The Chief Executive likewise emphasized the significant strides made by the government in streamlining business processes. He cited Executive Order No. 18 s. 2023 which establishes green lanes for strategic investments and simplifies procedures and reduces bureaucratic hurdles that a potential investor might have to face. Marcos thanked Germany for the continuing confidence in the Philippines as a partner in the Asia-Pacific and the ASEAN region. 'We are grateful for the interest of German companies to support the Philippines' commitment to sustainability and climate resiliency through the renewable energy investments that we received and were accounted as the top sector from Germany in 2023,' he said. He also pi tched for a possible Philippine hosting of the Asia-Pacific Conference of German Business, the biggest German networking event in the region. The President is in Berlin for a three-day working visit. Before the business forum, he met with German Chancellor Olaf Scholz to deepen bilateral relations. Source: Philippines News Agency
