PH to continue reforms despite leadership change: DTI

MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez has assured American businesses that the agency will continue reforms that will facilitate the growth of businesses and investments here.

In a virtual economic briefing hosted by the Philippine Embassy in Washington DC Thursday evening, Lopez said the Philippines and the United States remain strong partners across many administrations in the past years.

“With our national coming in the few months signaling the change in administration, I wish to assure all of you that our department, Department of Trade and Industry, will remain committed in continuing game-changing reforms and provide the assistance needed by the American businesses and investments to continuously grow and prosper in the Philippines,” he said.

The DTI chief urged US businesses to partner with Filipino enterprises to build back better towards a post-pandemic future.

He encouraged American investors to look into opportunities in the Philippines particularly in industries exhibiting growth and those with strong growth potential such as electronics, high-value services in the information technology and business process management, automotive sector including electric vehicles and its ecosystem, digital infrastructure especially hyperscalers and data center operations.

Lopez also said with the passage of key economic bills such as the amendments to the Retail Trade Liberalization Act, Foreign Investments Act, and Public Service Act, foreign companies have more space to invest in the Philippines.