PRRD assures Indian investors of hassle-free biz environment

FILE: President Rodrigo Roa Duterte TOTO LOZANO/PRESIDENTIAL PHOTO

MANILA — President Rodrigo Duterte has assured Indian investors of a hassle-free business environment as he witnessed the presentation of USD1.25 billion worth of business agreements between the Philippines and India in New Delhi on Friday.

In front of Indian and Filipino businessmen, Duterte reiterated his commitment to fight corruption and to address the problem of law and order especially on terrorism.

“In the past there are so many issues in doing business in the Philippines. One is the non-compliance of contract because that is the result of corruption and second, is that law and order is not good,” Duterte said in his speech.

Duterte told his audience that his anti-corruption campaign has resulted in the firing even of his own appointees in the government.

“But that’s how overzealous I am for the Philippines has always been known to be a corrupt country and every administration that passed our away, had always had a component of corruption in running the government,” he said.

Duterte assured “it will not happen during my time for nobody is allowed to make money.”

“So if you go there, whatever business, IT or anything, I can assure that there is no corruption and everything runs smoothly. That is the only contribution that I can give you in my lifetime, during our generation in my country, then I will be happy,” the chief executive said.

He also urged both Indian and Filipino businessmen not to go into the business processes that they believe is wrong.

“Do not go in this kind of thing either by you or official of the government because you will find your papers in the waste basket if I come to know it,” Duterte said.

“At the first whip, let me know. I would like to assure that no business papers or contract reaches my table,” he added.

Duterte said corruption is “just the way of life in the Philippines” and if he cannot totally eliminate corruption, he would try to reduce it to the barest minimum.

“But I can assure you that it will be a hassle-free. I will protect you, I can make the guarantee just do not give into corruption. You are not oblige to even spend PHP100 for you think that is legal and you go there upon our invitation. We invite, we protect,” he assured to the delight of his audience.

Department of Trade and Industry (DTI) Secretary Ramon Lopez said the business engagements have produced two memorandum of understanding (MOUs) and 10 Letter of Intents (LOIs) that will provide 10,000 jobs for the Filipinos in infrastructure, renewable energy, information technology and business services.

“The numbers can increase as companies finalize plans, specific calls to action in pursuing opportunities in investment and affordable quality medicines which is really at the top of your agenda,” Lopez reported to President Duterte.

Lopez said Adani Energy Limited, the biggest in India, is committed to invest renewable energy up to 1,000 megawatts.

Duterte went to India to attend the India-ASEAN Commemorative Summit that held last Thursday and India’s Republic Day celebration on Friday.

Last Wednesday, Duterte and Indian Prime Minister Narenda Modi held bilateral meeting where the two leaders agreed to expand bilateral ties particularly on trade and security.

Duterte is expected to arrive at the Davao City International Airport early Saturday morning. (PNA)