TRADE MISSION. Deputy Speaker David Suarez holds a press conference at the House of Representatives on Monday (March 11, 2024). He said the country is now seeing the results of President Ferdinand R. Marcos Jr.’s efforts to promote the country to foreign investors with the arrival of the high-level US trade and investment mission in the Philippines. (Screengrab)
MANILA – Lawmakers on Monday said the country is now seeing the results of President Ferdinand R. Marcos Jr.’s efforts to promote the country to foreign investors with the arrival of the high-level United States (US) trade and investment mission in the Philippines.
In a press conference, Deputy Speaker David Suarez commended President Marcos for his role in facilitating the high-level US trade mission to Manila, acknowledging his efforts in promoting the country abroad.
“It is true that his numerous visits and trips abroad allowed these trade missions to happen in the country. Congratulations to our President,” Suarez said.
Suarez expressed elation over the mission’s arrival, emphasizing the significance of foreign direct investments (FDIs) for the country's economy and national defense.
"I think this is another realization for us to accept why [foreign direct investments] will be beneficial to the country, especially in addressing the aggressiveness of China against the Philippines,” Suarez said.
He said the trade mission is timely as Congress deliberates on proposed economic amendments to the Constitution that would allow the country to attract more foreign investments.
“If I was a businessman and if I was part of the trade mission and I’m going to the Philippines knowing that the Constitution will be improved for us to be allowed to invest more, I think that’s a green light for the trade mission,” Suarez said.
1-RIDER Party-list Rep. Rodge Gutierrez echoed Suarez's sentiments, saying the proposed economic constitutional amendments would facilitate a smoother entry for foreign investments.
"It really reminds us of the discussions on Charter change. Opening up the economy would create a more welcoming environment for foreign investors,” Gutierrez said.
Gutierrez pointed out that President Marcos' foreign trips are paying off, especially with the first-of-its-kind US trade and investment mission.
“If you could recall binabatikos siya [President Marcos] (he has been criticized) because he would visit a lot of countries. We question the strategy but now that we see it more coherent together with the advice ng mga (of our) fiscal managers ng country natin, it has been very consistent. The administration has been nothing but consistent, and ngayon nagbubunga na po (and now it's bearing fruits),” Gutierrez said.
For his part, Cagayan de Oro City Rep. Lordan Suan lauded President Marcos for his proactive approach to promoting the country overseas.
“It just goes to show that you have to go out of your comfort zone, you have to go out of your own country, stir things up, make things happen. I guess that's one of the jobs of our President and it has borne fruit,” Suan said.
He also emphasized the importance of supporting the President through economic reforms.
“I guess the least that we can do is to help him through the amendment of economic provisions in our Charter, which are restrictive, to make it easier for foreign investment to come in,” he said.
Leading the mission to Manila from March 11 to 12 is US Secretary of Commerce Gina Raimondo.
She is accompanied by 21 American business leaders and senior corporate executives, along with notable personalities such as celebrity and philanthropist Allan Pineda, widely known as Black Eyed Peas rapper Apl.de.Ap and founder of the Apl.de.Ap Foundation International. (PNA)
