News Release

President Duterte to create enabling business environment for investors

President Rodrigo Roa Duterte delivers his speech after witnessing the exchange of business agreements between Filipino and Chinese investors at the Grand Hyatt Beijing on April 26, 2019. ALFRED FRIAS/PRESIDENTIAL PHOTO

BEIJING, China — President Rodrigo Roa Duterte on Friday, April 26, invited entrepreneurs to invest in the Philippines, promising an environment conducive to business.

“I want you guys, all businessmen, whether Japanese…Chinese. I want you to go to the Philippines, do business and I will create an environment which you will find comfortable,” the President said in his speech at the Grand Hyatt Beijing.

“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 said.

The Chief Executive assured businessmen that measures are taken by the Philippine government to promote ease of doing business.

“We are strengthening domestic policies and regulations to promote ease of doing business…easy…and enhance the competitiveness of new enterprises and industries,” he said, noting 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.

He said the Philippines welcomes responsible foreign investors as partners for national development.

The President likewise reiterated that he would not allow corruption in his government.

“The Philippine government guarantees, through good governance, an enabling environment that allows business and investments to prosper,” the President said.

Prior to his speech, President Duterte witnessed the exchange of 19 Philippines-China signed business agreements.

“I’m happy to witness the exchange of signed business agreements between the Philippine and Chinese companies. This is a vote of confidence in the growth and prospects of the Philippine economy, for which we are thankful,” he said.

The Chief Executive noted that China is now the Philippines’ largest trading partner and a major source of foreign investments.

He cited China’s Belt and Road Initiative as a complement to the Philippines’ massive push for infrastructure development under the Build, Build, Build program.

“Your investments in manufacturing contribute to job creation and the improvement of productive capacities, in line with our Inclusive Innovation Industrial Strategy,” he said.

The President said he and Chinese President Xi Jinping last year agreed to elevate Philippine-China relations to a Comprehensive Strategic Cooperation.

“Strong linkages between the Philippines and Chinese businesses are key to achieving this shared goal,” he said.###PND