TAGUIG CITY–On 22 November 2023, Department of Trade and Industry (DTI) Secretary Fred Pascual highlighted the Philippines’ readiness to global investments, particularly in the Halal industry, during the Department’s participation at the Digital Pilipinas Festival as part of the celebrations of the Invest Philippines Week, held at SMX Convention Center in Taguig City. The DTI chief highlighted that the Philippine Investment Festival and Philippine Halal Economy Festival are testaments to the Philippines’ continued commitment to fostering a conducive environment for trade and investment. 

Secretary Pascual said, “This festival forms part of the Invest Philippine Week, which brings domestic and international investors together to engage with government and private sector. At the end of this series of investment promotion activities, we hope to create new business partnerships and investments. We want to signal that ‘Bagong Pilipinas, New Philippines, is Open for Business’.” 

The trade and industry chief encouraged the diverse group of participants gathered in the event to explore collaborative opportunities with government agencies and private sector to propel the country’s innovative and sustainable growth. He emphasized the importance of creating an inclusive space for dialogue and cooperation to attract investments, drive economic growth, and position the Philippines as a globally-competitive market. 

The event, attended by representatives from Investment Promotions Agencies (IPAs), Halal experts, industry leaders, startups, diplomats and policymakers, investors, and stakeholders, is strategically designed to facilitate discussions and exchange ideas. It also aimed to identify synergies, address challenges, and showcase investment opportunities across various sectors. 

Secretary Fred Pascual also highlighted the commitment to providing investors with a comprehensive understanding of the investment landscape in the Philippines and the distinctive qualities that make ASEAN an appealing destination. 

In addition to investments, the event aims to explore the vibrant ecosystem propelling the Philippines to become ASEAN’s next startup hub. Industry leaders, experienced entrepreneurs, and policy influencers will delve into the unique factors, innovations, and collaborative efforts positioning the Philippines as a hub for startup excellence in the region. 

The DTI chief also acknowledged the importance of fostering the growth and development of the Philippine Halal industry. He committed the full assistance of the Department to those who seek to invest in the Philippines emphasizing the need to develop the Philippine Halal industry to create a prosperous, inclusive, and Halal economy in the country.  

Highlighting the strength of a whole-of-government approach, Secretary Pascual stressed, “Our investment promotion efforts represents a significant step in the nation’s journey toward becoming a prominent investment destination in the ASEAN region. This Invest Philippines Week is an important avenue to set the stage for discussing untapped potentials and exploring possible opportunities to attract global investments in various sectors contributing to the country’s robust economic growth and expansion.” ♦

Date of release: 22 November 2023