Marcos woos Lao businessmen to invest in PH

VIENTIANE - President Ferdinand “Bongbong” Marcos Jr. invited businessmen in Lao PDR to invest and explore the Philippines' business landscape. 

During the ASEAN Business and Investment Summit on Wednesday, Marcos made the pitch for the Philippines as an ideal hub for smart and sustainable manufacturing.

The Philippine President said the country is pursuing aggressive development of various sectors such as infrastructure, manufacturing, agriculture, and digital connectivity.

“So, let me put on my salesman’s hat and invite you to explore the investment opportunities we offer. We are targeting industries like green metals, battery manufacturing, energy equipment, data centers, and agribusiness,” Marcos said in his keynote speech. 

"So, let us be the architects of an interconnected, integrated, and progressive ASEAN. Let us build bridges that transcend borders, shaping a future where every member of the ASEAN family has a path to success,” he added. 

To achieve these goals, Marcos said the government enacted key reforms such as the Public-Private Partnership (PPP) Code, the Internet Transactions Act, and Executive Order No. 18 series of 2023. 

His administration is pushing for the enactment of other key legislations like the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy, or the CREATE MORE Act, which is anchored on the CREATE Act of 2021. 

He also mentioned the chemical industry as one of the largest sub-sectors in the manufacturing industry. 

Marcos said this has been a major pillar supporting various sectors like agriculture, automotive, cement, creative, construction, energy, health, and pharmaceutical.

“We look at this as a major contributor to economic growth and job generation in the foreseeable future,” Marcos said.

Meanwhile, in a separate interview with the Philippine media delegation at the sidelines of the business summit, Go Negosyo founder Joey Concepcion said most of the member states in the regional bloc are dependent on the economy; therefore the need to reskill workers.

Concepcion said he had attended a number of meetings at the ASEAN Summit to push for the welfare of MSMEs. 

''In general I would say the ASEAN countries, most of them are heavily dependent on the economy because we all realize that... especially those who are not as fortunate as successful countries like Japan and Singapore, countries like the Philippines, Cambodia, Lao, Myanmar, Vietnam, it's very important to focus on small entrepreneurs to get them to grow, scale up,'' he said.

Asked about agreements that can be signed during the Summit, Concepcion said a deal on the availability of land would be inked. He did not elaborate. —LDF, GMA Integrated News