Econ performance, key legislations entice capital

Trade and Industry Secretary Alfredo Pascual maintained that the country’s robust economic performance along with key legislations in place are enough to attract more foreign investors.

“We’re very happy about the performance of our economy, which is among the highest in Southeast Asia. And we’re making sure that we have a policy environment that will sustain growth,” he said on the second day of the Qatar Economic Forum on 15 May.

Pascual told foreign counterparts that the focus of the government on infrastructure development, improved connectivity, and strategic policy reforms are intact, ensuring the country’s economic competitiveness in the region.

The Trade chief cited the continuation of the “Build, Build, Build” program, now named as the “Build, Better, More” Program with 185 flagship infrastructure projects worth over $161 billion, which highlights the government’s intensified efforts to improve physical connectivity, digital infrastructure, water resources, health facilities, power and agriculture infrastructure.

Pascual also shared that the Maharlika Investment Fund, the country’s first sovereign wealth fund, will provide additional support for these projects.

Public-private partnerships

With this, he encouraged the pursuance of public-private partnerships, following the recent passage of the first public-private partnership code providing a clear and predictable policy environment for private sector participation.

Another key priority presented is the improvement of physical connectivity within the country as exemplified in projects like the Central Luzon Economic Corridor, which is set to enhance transportation links between key economic hubs.

“We will build railways to interconnect a port somewhere in the north to Clark in the middle down to Manila and then down to Batangas, and that will improve the connectivity within Luzon,” Pascual added.