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Top-level government officials reassured on 13 September 2018 potential investors that the Philippines under President Rodrigo Duterte, is working “non-stop” to ensure that the necessary policies, fiscal measures and legal framework relating to ease of doing business and investments are in place.

Consul General Antonio A. Morales highlighted the key reasons in choosing the Philippines as a an investment destination during his welcome remarks at the “Investing and Doing Business in the Philippines” Seminar organized by the Italian Chamber of Commerce in the Philippines, Inc. (ICCPI) at The Center, in Central, Hong Kong Island.

Around 90 members of the Hong Kong business community attended the event which featured Secretary Benjamin Diokno of the Department of Finance and Director General Charito Plaza of the Philippine Economic Zone Authority (PEZA), as lead speakers.

From the private sector, ItalPinas Development Corporation CEO and Chairman Romolo Nati and Atty. Anthony Abad, former President of the Philippine International Trading Corporation and Administrator of the National Food Authority, were also among the resource speakers.

Consul General Morales highlighted that with its reputation as a leading financial and investment center, and a source of world-class professional services, Hong Kong is an excellent jump-off point for companies to explore trade and investment opportunities in the Philippines.

Mr. Lorens Ziller, ICCPI Executive Director and moderator during the seminar, highlighted the similarities between the Philippines and Italy, such as being predominantly Catholic countries, similar culture, character traits and even cuisine, which give Italians a sense of familiarity when they go to the Philippines.

During his presentation, Secretary Benjamin Diokno said that the Philippines’ macroeconomic fundamentals remain solid, and is looking into a 7 to 8 percent growth in the medium term.

Secretary Diokno emphasized that the country provides a conducive environment for investments, and is globally recognized for its achievement in fiscal openness, transparency and good governance initiatives, including the Ease of Doing Business Act signed by President Duterte in May 2018, making it the ideal investment hub in Southeast Asia. 

“I urge the Italian business community to come to the country and join in the journey for a better, fairer, safer and richer Philippines,” Secretary Diokno said.

Director General Charito Plaza presented the various incentives offered in setting up businesses in Philippine economic zones, including income tax holidays, special visas and a one-stop shop service free of graft and corruption She also said that the Filipino people are the country’s strength with a young, highly literate, IT competent and English speaking workforce.

To date, there are 448 EU companies in Philippine economic zones, including 14 Italian companies.

ItalPinas CEO and Chairman Romolo Nati presented his company’s experience in doing business in the Philippines and success story in availing of PEZA’s incentives. ItalPinas’ main business is to develop green and affordable buildings outside Metro Manila, with its current project “Miramonti Green Residences” located in Sto. Tomas, Batangas.

Atty. Anthony Abad on the other hand advised the business community to choose the right partner when investing in the Philippines. Similar to Mr. Nati, Atty. Abad stressed on the huge opportunity to spread businesses outside Metro Manila.

After the seminar, the attendees were able to have one-on-one discussions with the resource speakers on their best options on investing and doing business in the Philippines.

Philippine Consul General Antonio A. Morales delivers welcome remarks at the “Investing and Doing Business in the Philippines” Seminar organized by the Italian Chamber of Commerce in the Philippines, Inc. (ICCPI) on 13 September 2018 at The Center in Central, Hong Kong Island. The event featured Secretary Benjamin Diokno of the Department of Finance of the Philippines and Director General Charito Plaza of the Philippine Economic Zone Authority (PEZA), as well as ItalPinas Development Corporation CEO and Chairman Romolo Nati and Atty. Anthony Abad, former President of the Philippine International Trading Corporation and Administrator of the National Food Authority, as resource speakers.
Philippine Consul General Antonio A. Morales (left) poses for a photo with (from left to right) Director General Charito Plaza of the Philippine Economic Zone Authority (PEZA), Secretary Benjamin Diokno of the Department of Finance of the Philippines and Mr. Lorens Ziller, Executive Director of the Italian Chamber of Commerce in the Philippines, Inc. (ICCPI) at the “Investing and Doing Business in the Philippines” Seminar organized by ICCPI on 13 September 2018 at The Center in Central, Hong Kong Island.
Around ninety members of the Hong Kong business community--more than the number expected—attended the “Investing and Doing Business in the Philippines” Seminar organized by ICCPI on 13 September 2018 at The Center in Central, Hong Kong Island, where Philippine Consul General Antonio A. Morales gave welcome remarks.