Marcos to address 48th PBC today

MANILA, Philippines — President Marcos is scheduled to attend the 48th Philippine Business Conference and Exposition 2022 today as the government strives to lure investors to achieve economic recovery and create more jobs.

Organized by the Philippine Chamber of Commerce and Industry (PCCI), the event serves as a venue for business leaders, micro, small and medium enterprises, policy makers, diplomats and the academe to tackle key economic issues and draw recommendations aimed at creating a resilient business environment.

It also aims to “jumpstart dialogue on key policy measures and programs concerning business and the economy that are vital in navigating the Philippines toward full recovery and growth,” according to a Palace statement issued yesterday.

The PCCI said this year’s conference would look at how the new government would build on the reform measure adopted by the Duterte administration to strengthen the country’s economic gains, solidify its leadership position in the region and “make a real difference” to the economy and the Filipino people.

Marcos will deliver an address during the event, which will be held at the Fiesta Pavilion of The Manila Hotel.

Ferdinand Ferrer, chairman and chief executive officer of EMS Group of Companies, will hand over to the President the resolutions crafted during the conference. The President will also lead the giving of awards to the most business-friendly local government unit and the most outstanding chamber.

During the Philippine economic briefing held in New York last month, Marcos promised to “swing the doors even wider” for high-value investments and claimed that the country is on its way to a “strong” recovery from the COVID-19 pandemic. He also described the Philippines as a “smart investment choice” and “Asia’s fastest rising economic star.”

“It is our belief that the Philippines is the smart investment choice and the best time to do business with us is now. We have grand opportunities, the timing, the window of opportunities for investment and especially in capital intensive investments in the Philippines which is what we need now. We believe the time is now,” Marcos said.

The Marcos administration has adopted an eight-point socioeconomic agenda that aims to reduce poverty incidence and elevate the country to upper-middle-income status. The agenda consists of near-term goals namely protecting purchasing power and mitigating socio-economic scarring; reducing vulnerability to COVID-19; and ensuring sound macroeconomic fundamentals; and medium-term targets namely creating more jobs; creating quality jobs; creating green jobs; upholding public order and safety, peace and security; and ensuring a level playing field.