PRESIDENT Rodrigo Duterte on Friday, April 26, prodded Chinese entrepreneurs to invest in the Philippines, as he promised to build an environment conducive to business.
Duterte made the remark during the signing of 19 business agreements between the Philippines and China which are expected to yield $12.165 billion in investments and generate 21,165 jobs.
“The Philippines welcomes responsible foreign investors as partners for national development. The Philippine government guarantees, through good governance, an enabling environment that allows business and investments to prosper,” the President said in a keynote speech.
“I want you guys, all businessmen, whether really -- be Japanese [or] Chinese -- I want you to go to the Philippines, do business and I will create an environment which you will find comfortable,” he added.
Duterte made the vow amid the reported influx of Chinese workers into the Philippines supposedly robbing Filipinos of jobs.
The Chief Executive guaranteed that the Philippine government is undertaking several measures to promote ease of doing business.
He noted that one initiative is the establishment of the Philippine Renminbi Trading Community, which would significantly reduce the cost of doing business across the two economies.
“We are strengthening domestic policies and regulations to promote ease of doing business, and enhance the competitiveness of new enterprises and industries,” Duterte said.
“And that is the reason why I am asking everybody for his utmost cooperation. I guarantee you that there will be no hassles, no asking for money, no nothing. And if you think that the permit or the concession privilege about to be given is unduly delayed, please let me know,” he added.
Duterte acknowledged that China is now the Philippines’ largest trading partner and a major source of foreign investments.
Thus, he assured Chinese investors that he would not allow corruption in his government.
“Thank you for taking part in this Philippine growth story and in partnering with our government as we pursue inclusive growth and shared prosperity for our people,” he said.
“I will not allow corruption in my government. It has been at the start of my administration and it will be until the day I step out of office,” he added. (SunStar Philippines)