President Ferdinand R. Marcos Jr. pledged Wednesday to push for policies that attract more investments and open new opportunities, as he lauded the signing of several business agreements in key strategic sectors between the Philippines and South Korea.
Speaking at the Philippines-Korea Business Forum, Marcos assured the South Korean business community of his administration’s commitment to advancing government policies to strengthen investor confidence and promote inclusive economic growth for both countries.
Marcos welcomed the agreements between Philippine and South Korean firms aimed at enhancing collaboration in key industries, including shipbuilding, nuclear energy, aerospace, critical minerals, supply chain, retail and health and wellness.
“All of these will ripple into significant partnerships that will generate projects, investments, and of course, livelihood. So, to our partners from Korea: Your investment in the Philippines reflects a strategic and forward-looking decision,” he said.
“In a rapidly changing world, resilience is built not in isolation, but in partnership. It is therefore both strategic and principled to work closely with reliable partners such as the Republic of Korea. Because together, we can secure a future where both nations are self-sustaining, competitive, and prepared for the demands of tomorrow,” Marcos added.
He said the Philippine government would continue implementing reforms to eradicate bureaucratic barriers, lower the cost of doing business and boost global competitiveness.
The President cited several laws, including the CREATE MORE Act, which supports projects investing at least PHP50 billion or generating at least 10,000 jobs, as well as the Capital Markets Efficiency Promotion Act, which cuts the stock transaction tax from 0.6 percent to 0.1 percent to make equity investment more accessible.
He noted that the Amended Foreign Investments Act lowers the capital requirement for foreign retailers from USD2.5 million to PHP25 million, making it easier for investors to enter into the Philippine market.
Marcos also emphasized the creation of green lanes for strategic investments to streamline permits and approvals for high-impact projects.
“Together, these measures form a coherent strategy to create an economy that is dynamic, that is inclusive, and resilient,” he said.
Marcos called for a “more balanced trade strategy and a healthier economic position” to drive inclusive growth.
He urged South Korean firms to explore investments in priority sectors such as automotive manufacturing, electronics, and biotechnology, saying “these will define the next chapter of our development.”
He said the business forum provides a platform for industry leaders, innovators, and decision-makers to come and build enterprises that create value, generate employment, and uplift communities.
“Progress finds meaning only when it improves lives. Every policy that we craft, every agreement that we sign, must ultimately serve our people. If we remain guided by this principle, then these ventures will open doors of opportunity, nurture aspirations, and empower our citizens to thrive,” Marcos said.
The Philippines-Korea Business Forum aims to jointly advance Vision 2030, a shared goal of reaching USD20 billion in bilateral trade by 2030.
The forum also seeks to establish a major global trade channel to achieve sustainable growth by strengthening bilateral strategic partnerships in key sectors, including manufacturing investment cooperation, energy, and advanced infrastructure. (PNA)
