Finance Secretary Ralph Recto is inviting Japanese investors to participate in the country’s public-private partnership program.
Recto also urged Japanese manufacturing giants to expand their operations in the country, pitching it as Asia’s most strategic hub for cutting-edge production and innovation. These include the amendments to the Retail Trade Liberalization Act that lowers the minimum paid-up capital requirement for foreign retail corporations; changes to the Public Service Act that allow full foreign ownership of public services, such as telecommunications, airports, and shipping; and amendments to the Foreign Investments Act that promotes foreign direct investments and eases restrictions on professions.
The Philippine Domestic Submarine Cable Network provides inclusive connectivity across the archipelago, positioning the country as an attractive host for technology-centric businesses such as hyper-scale data centers, smart manufacturing, and high-tech agriculture. “We are committed to working non-stop until good becomes better and better becomes the best for business,” he said.
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