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With President Duterte’s assurance that they don’t have to worry about government bureaucracy and corruption, Malaysian companies are now more interested and confident in investing in the Philippines, Trade and Industry Secretary Ramon Lopez said.
Lopez said that aside from stability in policy, the Malaysian investors were also guaranteed that the President is exerting all efforts to find lasting peace, especially in Mindanao.
In an interview with reporters during the Chief Executive’s recent visit to Kuala Lumpur, Lopez said that members of the business community in Malaysia have expressed support and commitment to strengthen ties with the Philippines in terms of more investments and undertakings.
He added that existing investors are more heartened and confident to make more investments in the Philippines after they were told of the promise of the President that their investments will be protected, their contracts honored, government procedures streamlined, and in general, the problems attending corruption avoided.
“The good thing that they heard is we relayed to them, especially those with current investments and those coming to invest, the assurance of the President in terms of protection, making sure that they encounter a very good, conducive, and business friendly environment,” said Lopez.
“Our President is assuring businessmen and investors that there will be no corruption, no extortion, and for the businessmen and investors to let him know if they are encountering difficulties. That kind of guarantee ang binibigay ni President and I relayed it to the business sector,” Lopez added.
He said that under the Duterte administration, the Malaysian business community can look next door to the Philippines as their next preferred investment and trade destination.
Having heard all these, Lopez said the Malaysian businessmen “felt so assured and more bullish.”
Philippine officials had said that the President’s visit to Malaysia was an opportunity to raise the partnership of the two countries to the next level.
Duterte’s visit coincided with the signing of a Memorandum of Understanding for a $1-billion elevated railway project that from Diliman, Quezon City to Quiapo, Manila. (Elena L. Aben)