President Ferdinand R. Marcos Jr. said the Philippines is open to investors from any country as long as their investments bring jobs and other benefits to Filipinos.
Marcos made the statement during the Foreign Correspondents Association of the Philippines (FOCAP) Presidential Luncheon at the Diamond Hotel in Manila, amid questions on whether the country’s plan to host an advanced technology hub could mean moving away from China.
“I don’t think that that’s in any policy statement that we are distancing ourselves from China,” Marcos said.
The President pointed out that China remains one of the biggest investors in the Philippines and that the two countries continue to work together in several areas.
Marcos also noted that Chinese nationals are among those who can enter the Philippines without a visa.
“And so that is hardly distancing ourselves from China. We’re opening our doors to China and to Chinese travelers,” he said.
Marcos said the government does not see investments as a choice between China and other countries.
“It’s not a binary thing. It’s not either or in our case,” he said.
Marcos added that the Philippines is willing to deal with investors from the United States, Europe, China, Japan, South Korea, Canada, Australia and other countries.
“What we are interested in is to benefit our people in terms of jobs, in terms of investment into the country, in terms of the advancement of our capabilities in terms of technology, in terms of our training, reskilling and upskilling,” he said.
The President also said foreign companies cannot simply take the country’s minerals without the approval of the Philippine government.
Marcos said the government should also develop ways to process minerals in the Philippines instead of simply exporting raw materials.IMT
