Marcos visits New York Stock Exchange
President Ferdinand "Bongbong" Marcos Jr. addressed the New York Stock Exchange on Tuesday (PHT) with much optimism that the Philippines and United States will work to build a stronger economic relationship during his term, according to a report by CNN Philippines.
In an attempt to woo investors in the United States, he said the Philippine government recently made reforms to promote the ease of doing business. Marcos highlighted the signing of the law that allows full foreign ownership in transportation and telecommunications sectors.
The chief executive played up investment opportunities in information technology, business process management, agribusiness, and telecommunications in the Philippines.
Marcos, who is in the first few months of his presidency, emphasized the long-standing relationship of the Philippines and United States. He shared what he discussed during the luncheon with the US-Philippine Society earlier that day.
"I explained that it is very clear to me and my vision for the way the country will move forward, that I cannot see the Philippines in the future without having the United States as a partner. Although I was referring to the geopolitics of it, the political situation in the region, that certainly does continue to apply to changes in the economic front,” he said.
The President also sees a further strengthening of Philippine-US economic ties through joint ventures, public-private partnerships, and government-to-government deals. He said the signing of the Foreign Investments Act during the previous administration could lead to greater opportunities when it comes to these investment agreements.
"It is something I can see as becoming stronger and becoming more robust as we work together towards exploiting properly the new global economy," he said during the NYSE forum.
Prior to Marcos' speaking engagement at NYSE, he held meetings with private American companies in New York.
He received the executives of leading global aerospace company Boeing, American energy company NuScale Power, and California-based company WasteFuel which produces renewable fuels by converting municipal and agricultural waste into low-carbon fuels, renewable natural gas, and green methanol in an effort to address climate emergency.
The President is set to tackle the most pressing issues concerning the country, including climate change, in his first speech in front of other world leaders at the United Nations General Assembly in early Wednesday morning (PHT).
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