MANILA – President Marcos said the Philippines had shifted its focus from post-pandemic recovery to transforming its economy, which involves increasing production and investment.
Marcos said this during his talk at the 10th Asia Summit hosted by the think tank Milken Institute in Singapore on Wednesday, Sept. 13.
In his remarks, the President recalled the lessons the Philippines learned during the Covid-19 pandemic, including the need to increase local agricultural production and reduce dependence on imports.
“The pandemic showed us that this was not a wise choice to have made, and so we have continued to develop our agricultural sector, and the aspiration once again is that we are able to provide a sufficient supply of food at prices that people can afford,” he said.
While recognizing that the Philippines has yet to achieve its goal, Marcos said it is slowly becoming more food-sufficient while supporting producers, research and development, and other stakeholders in the market.
The President also highlighted the need to boost the country’s manufacturing capabilities, which requires foreign investments.
Meanwhile, Marcos noted his administration’s efforts to seek inputs from the private sector to ensure the country’s conducive business environment for foreign investors.
Among the issues that the Philippines is facing is the insufficient supply of electricity, which President Marcos said would need investors to pursue renewable energy sources.
The President also mentioned the amended policies on ease of doing business in the country.
President Marcos will return to the Philippines on Sunday, Sept. 17. (MB)
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