Marcos Jr. assures South Koreans of PH readiness for investments

President Ferdinand "Bongbong" Marcos Jr. assured South Korean investors that the Philippines is ready for investments, calling it a "fine, strategic move" at this "opportune time."

Speaking at the Philippines-Republic of Korea business forum, Marcos highlighted the government's ongoing efforts to improve the business environment and accelerate policy reforms, citing the country's strong economic performance.

He noted that through key policy reforms, the government aims to make the Philippines a top destination for sustainability and strategic investments.

The Philippines experienced remarkable growth in the first half of the year, making it one of the fastest-growing economies in the region, with foreign direct investment net inflows of almost US$9 billion (PHP511 billion) last year.

Marcos also mentioned that the recently ratified Philippines-Korea Free Trade Agreement elevates relations by reducing or eliminating tariffs on key products like agricultural goods, electronics, and automotive components.

He added that the government is continuously finding ways to make the Philippines a more conducive place to do business, especially in dismantling bureaucratic barriers, lowering the cost of doing business, and enhancing global competitiveness.

Marcos pointed to the business-to-business agreements signed by him and President Yoon as a clear sign of the private sectors' commitment and enthusiasm for collaboration.