Philippines vows environment conducive to business

BEIJING – Chinese and other foreign investors starting a business in the Philippines are guaranteed a hassle-free experience as the government continues to battle corruption and upgrade relevant policies, President Duterte told a gathering of executives and entrepreneurs here.

“I want you guys, all businessmen, whether Japanese or Chinese – I want you to go to the Philippines, do business and I will create an environment which you will find comfortable,” Duterte said at a business forum the other day at the Grand Hyatt Hotel where he also witnessed the signing of $12.16 billion worth of new investments and partnerships.

“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.

He said eliminating corruption is key to ensuring an environment conducive to business.

“I will not allow corruption in my government. It has been at the start of my administration and it will be until the day I step out of office,” the President said.

Duterte said his campaign against corruption had cost six Cabinet members their jobs.

“I said there will be no corruption. I have fired to my dismay almost six Cabinet members, during the last three years, some for corruption,” he said. “I will not, even – I said, want to hear even a whisper. Like Caesar’s wife, you must be beyond whisper. That is how to get the people to get interested and trust in government people,” the President added.

The President joined 39 other heads of state and international organizations for the Second Belt and Road Forum which wrapped up yesterday at the Lanqi Lake International Convention Center.

Duterte explained that the Philippines welcomes responsible foreign investors as partners in national development.

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

The President also said investors may approach Cabinet secretaries and other concerned officials if they have problems regarding their projects.

“Or maybe your project is related to one of the departments here, whether it is energy, electronic, railroad, there’s always a secretary and I guarantee you, they are all honest,” the President added.

Duterte also revealed that he and Chinese President Xi Jinping have agreed to elevate Philippines-China relations to the level of comprehensive strategic cooperation. 

“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.

Duterte pointed out that China is now the Philippines’ largest trading partner and a major source of foreign investments.

“The Belt and Road Initiative, which we welcome, complements our massive push for infrastructure development under the Build, Build, Build program,” the Chief Executive further said.

“Your investments in manufacturing contribute to job creation and the improvement of productive capacities, in line with our Inclusive Innovation Industrial Strategy. We are now jointly developing industrial parks – the first of which is now being built at the New Clark City,” Duterte said.

Another initiative cited by the President was the establishment of the Philippine Renminbi Trading Community, aimed at reducing the cost of doing business between the two economies.

“Our growing economic exchanges can only strengthen the enduring friendship between the Filipino and Chinese nations. Thank you for taking part in this Philippine growth story and in partnering with our government as we pursue inclusive growth and shared prosperity for our people,” he told forum participants.