Marcos urges Lao investors to boost PH manufacturing

President Ferdinand "Bongbong" Marcos Jr. encouraged Lao businessmen to invest in the Philippines, highlighting its potential as a hub for smart and sustainable manufacturing.

During the ASEAN Business and Investment Summit in Vientiane, Laos, Marcos promoted the country's focus on developing sectors like infrastructure, manufacturing, agriculture, and digital connectivity.

He specifically invited investment in green metals, battery manufacturing, energy equipment, data centers, and agribusiness.

Marcos emphasized building bridges for a progressive ASEAN where all members have a path to success.

Key government reforms to attract investment include the Public-Private Partnership (PPP) Code, the Internet Transactions Act, and the Green Lanes for Strategic Investments.

Another measure, the CREATE MORE Act, seeks to further strengthen fiscal and non-fiscal incentives in strategic industries.

The president also touted the Philippine manufacturing sector which has grown despite global challenges, citing the sustained Purchasing Managers' Index and the chemicals industry as a major contributor to economic growth and job generation.