Marcos wants ‘red carpet,’ not ‘red tape’

President Ferdinand Marcos Jr. on Friday said he wants his economic team to welcome business people with a red carpet instead of the red tape that has traditionally plagued the country.

During the inauguration of the Expanded Petrochemicals Manufacturing Complex in Batangas, Marcos said the economic team is on a mission to create “a climate” that boosts incentives, promotes ease of doing business, and funds high-impact infrastructure.

“The bottom line of their assigned mission is this: To reduce red tape that chokes industry and innovation and replace it with a red carpet that ushers in the capital, foreign and domestic, and provides a path towards progress,” Marcos said.

He added: “It is my firm belief that the government should not be a yoke on the back of business, like by taxing them heavily and tightly regulating their growth.”

He underscored that the government’s commitment extends beyond mere facilitation, framing it as “mandatory equity” for national growth.

He expressed confidence that the opening of the manufacturing complex would generate additional employment for Filipinos, attract more investors to explore prospects in the country, and elevate the Philippine economy and competitiveness.

Sole facility

Before his speech, the President toured the 160-hectare facility accompanied by JG Summit Holdings Inc. chairperson James Go, JGSHI president and chief executive officer Lance Gokongwei, and JGSOC president and CEO Arnel Santos.

Initially established for polyethylene and polypropylene polymer manufacturing in 1998, the JGSOC complex has undergone expansion over the years.

It is the sole facility in the Philippines processing naphtha into ethylene and propylene, essential components for the production of common plastics.

‘It is my firm belief that the government should not be a yoke on the back of business, like by taxing them heavily and tightly regulating their growth.’

The facility benefits local plastic businesses by ensuring a consistent supply of materials — reducing costs, facilitating increased production, and enhancing competitiveness.

Additionally, the plant manufactures other chemicals utilized in paints, plastics, rubber, and various other products.

In 2023, JGSOC initiated the commercial operations of the final phase of its $ 1.3 billion expansion project, elevating the overall site capacity to over one million metric tons of petrochemical products annually. JGSOC exports its petrochemical products to more than 30 countries worldwide.

In his speech during the inauguration, Marcos highlighted the complex’s significance beyond its cutting-edge technology.

He called it a “tribute to Filipino skills,” a symbol of business confidence, and an example of the country’s manufacturing resurgence.

“This is more than just a factory. It’s a symbol of Filipino ingenuity, a testament to the unwavering belief of Mr. John Gokongwei in our country, and a key element of our vision for a revitalized manufacturing sector,” Marcos said.

He emphasized the factory’s role in creating jobs, boosting the economy, and attracting further investments.

He noted its contribution to the “upstream” sector, supplying essential materials to countless downstream industries and driving value chain development.

“This complex is a critical link in our industrialization strategy. It secures a vital production ingredient, generates thousands of jobs, and paves the way for an estimated P215 billion in economic growth next year,” he said.