RIYADH, Saudi Arabia-- President Rodrigo Roa Duterte on Wednesday (April 12) assured Saudi businessmen that his administration does not tolerate corruption.
"There is no corruption now in my administration. We make it easy for you to do business in the Philippines," President Duterte said during his meeting with the members of the Riyadh Chamber of Commerce and Industry.
"We need investments in my country, and if you may want to go there and invest, we can give you the best place to go about earning in my country," he added.
There were already pledges and business agreements forged in various industries during the investment forum. Expected to benefit from these are businesses located in economic zones and engaged in Halal food production.
One of them was the Letter of Intent (LOI) signed by Sheikh Alwaleed Tuwaijri, president of Saudi Investment Group, and Charito Plaza, director-general of the Philippine Economic Zone Authority declaring the Saudi firm's interest to invest in ecozone development activities in the Philippines.
"Business is business and anytime that you feel that there is a promise of business in my country, feel free. We give you the best incentives and the best environment that we can offer for you... Maybe, through our Cabinet members and Secretaries, we can just select what type of investments that you may want to introduce into my country and would really be available," Duterte said.
The President likewise took the occasion to thank the Saudi government for hosting the country's overseas Filipino workers (OFWs) whose remittances contributed in growing the economy.
The members of the Cabinet seen accompanying the President in the investment forum included Labor Secretary Silvestre Bello III, Trade Secretary Ramon Lopez, Transportation Secretary Arthur Tugade, and Presidential Communications Secretary Martin Andanar
Source: Philippines News Agency