ATTRACTING INVESTMENTS. Finance Secretary Ralph Recto (from left to right), Economic Development Group (EDG) Chairperson Secretary Frederick Go, and National Economic and Development Authority Secretary Arsenio Balisacan attend the EDG meeting on Feb. 19, 2024. Members of the EDG vowed to harmonize government efforts to attract more investments in the country. (Photo courtesy of NEDA)
MANILA – The country's Economic Development Group (EDG) continues to harmonize efforts to further attract foreign investors to the Philippines, the National Economic and Development Authority (NEDA) said.
In a statement Monday, NEDA, which is the EDG secretariat, said the commitment was made following the EDG's fifth meeting held on Feb. 19.
During the high-level meeting, member agencies of the EDG aligned their efforts to facilitate foreign investments in the sectors of renewable energy, critical minerals and agriculture.
The agencies also agreed on the ways forward to address identified bottlenecks and expedite processes to realize the renewable energy projects in the government’s pipeline.
The high-level discussions also addressed how investor interest in critical minerals can be translated into tangible investments in mineral processing, particularly in green technologies within strategic value chains.
During the meeting, Secretary Frederick Go of the Office of the Special Assistant to the President for Investment and Economic Affairs and chairperson of the EDG cited the EDG's crucial role in coordinating initiatives to prevent redundancies and ensure alignment among all relevant agencies.
The Department of Agriculture and Department of Agrarian Reform also informed the group of their efforts to encourage clustering and consolidation to support higher agricultural productivity and improve farmers’ welfare. (PNA)
