President Ferdinand R. Marcos Jr. on Monday highlighted the Philippines’ expanding trade partnerships and sustained investment inflows, saying these have strengthened the country’s economy and created more jobs for Filipinos.

In his fifth State of the Nation Address, Marcos said the Philippines has regained its place in the international community, with stronger foreign relations translating into wider market access and economic opportunities through trade agreements and increased investor confidence.

He noted that the country now has 23 free trade agreements (FTAs), either in force or under active negotiations with other countries, including the Regional Comprehensive Economic Partnerships and a forthcoming Comprehensive Economic Partnership Agreement with the United Arab Emirates.

“As we have witnessed and proven during this difficult period, our strong foreign relations have earned us incalculable dividends. The Philippines is once again a full member of the community of nations,” he said.

“Our exports have been growing, reflecting high productivity and the increasing competitiveness of our products and services in the international trade market.”

Marcos said the government would continue reinforcing the country’s strengths, enhancing its comparative advantage and diversifying its export portfolio.

The Philippines, he said, has remained competitive in supplying critical components to leading technology firms worldwide while expanding exports of indigenous farm products, such as ube, coconut, bananas, and other tropical fruits, as well as newer products like enoki mushrooms.

The President also cited reforms aimed at improving the ease of doing business in the country and accelerating digital transformation, saying these have encouraged more foreign investments.

“Foreign investments continue to pour in because of our beneficial policies, especially those promoting ease of doing business and accelerating digital transformation that curb red tape and corruption,” he said.

He emphasized that over the past three years, more than PHP6 trillion worth of investments have been facilitated through the government’s Green Lanes Initiative, with the projects expected to generate more than 400,000 jobs.

Marcos said the country’s economic zones have continued to provide a foundation for investment growth, posting consistent expansion over the past three years.

He cited the proclamation of new economic zones in areas outside Metro Manila, including Dumaguete and Misamis Oriental, noting that the government would also make a strong case for Palawan and the halal industry.

He also said the administration would continue pursuing strategic and emerging industries, including industries that would position the Philippines higher in the global value chain, including pharmaceuticals, advanced manufacturing, luxury goods, technology and logistics.

“We continue to strive for bigger and greater things, venturing into areas heretofore unimaginable,” Marcos said. (PNA)