PBBM tells Brunei business leaders Philippines is prime investment spot

President Ferdinand R. Marcos Jr. urged Brunei's business leaders to invest in the Philippines during the Philippine Business Forum in Bandar Seri Begawan, highlighting its economic potential and describing the country as a "prime investment destination."

He invited Brunei businesses to view the Philippines as a strategic partner for regional growth, noting Brunei's appreciation for Filipino brands like Jollibee.

Marcos pointed to significant policy reforms and legislations, including the Retail Trade Liberalization Act, Foreign Investments Act, Public Services Act, and Renewable Energy Act, as key drivers for investment.

These laws have liberalized foreign ownership in critical sectors such as air transport, telecommunications, shipping, retail, and renewable energy projects.

The Philippine government has been "creating a more investor-friendly environment" by creating "green lanes for strategic investments" and a sovereign fund which "demonstrates our commitment to financing priority projects and driving social economic development."

A Memorandum of Understanding for Partnership in Agriculture and MSMEs Development between the ASEAN Business Advisory Council and the Bruneian ASEAN Business Advisory Council Philippines was signed during the visit.

The Philippines is also "investing in infrastructure, promoting sustainable industries and supporting micro, small and medium enterprises," with the aim of paving the way for a more dynamic and interconnected regional economy.