Administrasyon ni PBBM, target na pataasin pa ang lokal na produksiyon ng pagkain ng bansa;
Pangulo, inimbitahan ang mga dayuhang negosyante na mamuhunan sa Maharlika Investment Fund
Pangulo, inimbitahan ang mga dayuhang negosyante na mamuhunan sa Maharlika Investment Fund
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NewsTranscript
00:00 Let's continue with the story of Allan Francisco and the visit of President Ferdinand R. Marcos Jr. to the 10th Asia Summit
00:06 where he mentioned the expansion of the Agriculture and Harlequin Investment Fund. Here is the report.
00:15 The government will increase the local production of food in the country.
00:21 This is what President Ferdinand R. Marcos Jr. said at the 10th Asia Summit, which he personally visited yesterday.
00:27 According to President Marcos, this is what the country learned from the effects of the COVID-19 pandemic.
00:32 The pandemic showed us that this was not a wise choice to have made.
00:38 And so we have continued to develop our agricultural sector.
00:43 And the aspiration once again is that we are able to provide a sufficient supply of food at prices that people can afford.
00:53 The government's target is to make food sufficient for Filipinos.
00:58 This includes support to producers, research and development, and other stakeholders in the market.
01:04 The President also believes that the country's manufacturing capabilities should be looked at
01:09 so that foreign investors can benefit.
01:11 The government will also focus on renewable sources of energy to fight climate change.
01:16 To clarify that, the new law, the Public Service Act, allows now, which was not really allowed before,
01:24 allows now fully 100% foreign ownership when it comes to renewable energy.
01:32 Last year, our Department of Energy released a circular which modified the implementing rules and regulations of our country's Renewable Energy Act.
01:42 The President also mentioned the Harlequin Investment Fund.
01:45 The fund is designed to consolidate investable funds from government and financial institutions
01:52 to further drive economic development through strategic investments both domestically and overseas.
02:00 With President Marcos' growth, the Philippines' location in Asia is now strategic.
02:04 It is also a member of the Regional Comprehensive Economic Partnership.
02:08 There are many opportunities in various sectors of the country, such as digital.
02:12 That is why the e-commerce industry is developing fast.
02:15 The strength of the English language in the Filipino language, particularly in business processing and outsourcing,
02:21 was also mentioned by President Marcos.
02:23 The government is also focused on education.
02:25 The President also praised the Philippines' excellence in customer support and healthcare services.
02:31 We are the number one country of choice for the delivery of customer support and healthcare services
02:37 and one of the top destinations for outsourcing overall, second only to India.
02:44 Several data centers are already operating in the Philippines, including Google, Microsoft, Amazon, and Meta, amongst others.
02:52 Yours could be the next one.
02:54 In order to improve the infrastructure, the government is also adjusting the facilities, transport network, and energy facilities
03:02 that will help in business operations,
03:05 including strengthening the public-private partnership added by the President.
03:09 The government is also speeding up the transaction
03:11 so that the process will be easier for foreign investors,
03:14 and so that there will be reforms in the system of exportation to the country.
03:18 To those who are looking to invest in the Philippines,
03:21 we offer incentives, tax breaks, and robust legal frameworks that safeguard the interests of foreign investors.
03:29 Intellectual property rights are protected, ensuring that innovation flourishes within our borders.
03:36 We also note that geopolitical stability and regional cooperation are cornerstones of our foreign policy.
03:45 We are dedicated to peaceful relations and collaboration that foster a conducive investment and business climate.
03:54 Among the challenges, the Executive Board says that the Philippines' success in the development of the economy,
04:01 social progress, and sustainable development remains solid.
04:04 Our nation's story is one of resilience, of a people who rise above challenges and seize opportunities to build a better tomorrow.
04:14 Whether there is inflation or the price of goods in the world is rising,
04:17 the Philippine economy rose by 7.6% in 2022.
04:22 This is the fastest-growing economy in the country since 1976.
04:26 The country's economy will continue to grow based on the establishment of the World Bank and the International Monetary Fund.
04:31 The President also said that the Philippines is a large market for businessmen,
04:37 especially since it has more than 100 million consumers.
04:40 Before returning to Singapore on Sunday, President Marcos met with business leaders there.
04:46 President Marcos was also invited to Singapore by Prime Minister Lee Hsien Loong
04:50 to watch the finals of Formula One Singapore Grand Prix 2023.
04:55 Alan Francisco for the nation.