PRESIDENT Ferdinand R. Marcos, Jr. on Wednesday urged business leaders in Brunei Darussalam to seriously consider the Philippines as a prime investment country.
“I enjoin the business leaders of Brunei to seriously consider the Philippines as your prime investment destination,” President Marcos said in his speech during the Philippine Business Forum in Brunei Darussalam.
The forum showcased the Philippine economy’s strength and facilitate trade and investment partnerships focused on agriculture, renewable energy, halal development, among other opportunities in the Brunei Darussalam Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) region.
It was organized by the Department of Trade and Industry (DTI) in partnership with the Department of Agriculture (DA) and the Brunei Economy Program with the support of the Philippine Embassy in Brunei.
Speaking before Bruneian business leaders, the President stressed the country’s commitment to foster mutually beneficial outcomes for the business sectors of both the Philippines and Brunei.
“Together, let us approach the future with determination and confidence, striving towards shared prosperity and success,” President Marcos said.
He also cited the positive developments from the Philippines and discussed how they can advance and strengthen the collaboration between the two nations, leveraging the benefits of the partnership through ASEAN, the Regional Comprehensive Economic Partnership Agreement (RCEP), and the Brunei Darussalam Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) for a prosperous shared future.
He said vast potentials are seen in sectors such as agribusiness, renewable energy, and Halal industry development.
The President said the Philippines’ trade and investment policy frameworks, established through the ASEAN and RCEP, are fundamental to the agenda for regional economic integration.
He expressed optimism these efforts will be further supported and strengthen the policy of the measures designed for supply chain integration and boost foreign direct investment.
He also emphasized the potential of BIMP-EAGA in building a unified ASEAN production base. BIMP-EAGA is strategically positioned to provide robust supply and value chains supporting the development of small and medium-sized enterprises in key productive sectors.
With the region experiencing a steady rise in population and income, the market for goods and services is expanding significantly, he said. This growing market presents numerous opportunities for businesses and investors to capitalize on, he said.
The President said also the Philippines and Brunei are particularly focused on developing two key economic corridors: the West Borneo Economic Corridor, encompassing Brunei Darussalam; and the Greater Sulu-Sulawesi Corridor, covering Palawan and parts of Mindanao.
These corridors are strategically designed to integrate production with supply chains, offering abundant opportunities for SMEs to flourish, he said.
