Given the extent of economic activities in the RCEP region, Trade Secretary Alfredo E. Pascual has signaled the Philippines’s readiness to attract investors in the country, particularly in the areas of manufacturing and innovation. Know more:
Given the extent of economic activities in the Regional Comprehensive Economic Partnership region, Trade Secretary Alfredo E. Pascual has signaled the Philippines’s readiness to attract investors in the country, particularly in the areas of manufacturing and innovation.
“Given this extent of economic activities, there are a lot of opportunities that foreign investors and local businesses can seize, explore, and develop, especially in the manufacturing sector and innovation. We want to Make it Happen in the Philippines, and we are ready,” the trade chief said on Friday. “As we set to participate in the largest free trade bloc, investors should know that there is enough space and vast opportunities in the country,” Pascual said.
The DTI said in a statement on Friday that the Philippines “has the necessary foundation to support a robust innovation ecosystem, from a strong intellectual property regime, the passage of the Philippine Innovation Act and Innovative Start Up Act, establishment of Regional Inclusive Innovation Centers , and a number of Innovation and Technology Support Offices around the country.”
Further, Pascual stressed that the growing e-commerce industry is also an opportunity for the Philippines to secure its niche in the digital economy, noting the country’s strength in the IT and Business Process Management sector.
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