BANGKOK – The Philippines remains a “very good investment destination” amid stable economic growth, credit rating outlook, and financial reforms, Trade and Industry Secretary Ramon Lopez said yesterday ahead of President Duterte’s meeting with Thai businessmen here this afternoon.
According to Lopez, the President is expected to urge the Thai business community to invest or expand their ventures in the country during his visit to Bangkok.
“It will be an open discussion that will basically allow the President to present Philippines as a very good investment destination,” Lopez said. “Some of these private companies actually are already operating in the Philippines. We are basically asking them to be more active and increase their exposure, their investments,” he added.
Duterte is scheduled to arrive in Bangkok last night mainly to attend the annual ASEAN summit on June 22 and 23.
He is set to meet with top business executives of various Thai companies before attending summit discussions. These Thai firms are involved in banking, food, manufacture, agriculture, agri-business, and real estate, among others, according to Lopez.
So far, Lopez said there is no scheduled signing of new business deals during the President’s visit to Thailand.
To convince the Thai businessmen to do business in the country, he said the President is also expected to highlight the Philippine economy’s vibrant growth as well as affirm his commitment to provide a business friendly environment.
“The President will assure them all these guarantees and protection of their investments as well as present to them a good business case for the Philippines in terms of improvement in credit rating, several reforms we are undertaking in trade, investments, tax, financial reforms,” he said. (Genalyn Kabiling)