The Philippines is setting its sights on becoming the next manufacturing and logistics hub in Asia, President Ferdinand Marcos Jr. said, as Manila capitalizes on its growing ties with Washington.
“These initiatives will enhance freight transport services, mobility and access to key economic zones, ensuring business continuity and positioning the Philippines as a regional hub for agribusiness and logistics in the Asia Pacific,” Marcos said at the 6th Indo-Pacific Business Forum in Manila on Tuesday.
Southeast Asian countries, with its pool of skilled and affordable talent, are racing to get a slice of the billions of dollars of investment that may spread out in the region as part of de-risking efforts by the US and its allies away from China. The business forum is part of Washington’s efforts to tighten economic relations with the Philippines, as the allies bolster defense ties amid growing tensions with Beijing over the disputed South China Sea.
Source: Financial Digest (financialdigest.net)
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