Manila, March 4 (AseanAll) — Philippine President Ferdinand R. Marcos Jr. on March 4, 2026 assured Korean investors that the administration has been implementing economic reforms to further strengthen investor confidence, attract more investment, and improve the overall business climate in the Philippines.
Addressing top business leaders during the Philippines-Korea Business Forum, Marcos outlined several economic reforms being rolled out by the government as the two nations forged multiple business agreements across vital sectors, including shipbuilding, nuclear energy, aerospace, critical minerals supply chains, retail, and health and wellness.
“This Administration remains persistent in its commitment to meaningful reform. We are eradicating bureaucratic barriers, reducing the cost of doing business, and boosting our competitiveness in the global arena,” Marcos said during the forum, which was also attended by visiting ROK（South Korea） President Lee Jae Myung.
The Chief Executive highlighted legislative and regulatory measures that support investment growth, including the CREATE MORE Act, which facilitates large-scale projects.
“We are supporting qualified projects that invest at least PhP50 billion or create at least 10,000 jobs. They mean more business rising up, more Filipinos employed, and more families given the chance for a better life,” the President said.
President Marcos also cited the Capital Markets Efficiency Promotion Act, which streamlines taxation for financial transactions, reducing the stock transaction tax from 0.6 percent to 0.1 percent.
The President said such an initiative will make equity investment more accessible and capital markets more efficient.
The Chief Executive further mentioned the Amended Foreign Investments Act, which lowers capital requirements for startups and advanced technology ventures. “We are making it easier for investors to do business in the Philippines,” he said.
Additionally, the President highlighted the Amended Retail Trade Liberalization Act, which significantly reduces capital requirements for foreign retailers—from $2.5 million to PhP25 million—facilitating easier entry into the Philippine market.
“By removing unnecessary pre-qualification requirements, we shorten the process for doing business while ensuring healthy competition that benefits Filipino consumers through better choices and fairer prices,” the President said.
The President also cited Executive Order No. 18, series of 2023, which establishes Green Lanes for Strategic Investments, streamlining permits and approvals for high-impact projects.
“Together, these measures form a coherent strategy to create an economy that is dynamic, that is inclusive, and resilient,” the President stressed.
The President, meanwhile, expressed confidence that the forum will foster partnerships that are both “profitable and purposeful” for the two nations.
President Marcos urged investors to pursue a “more balanced trade strategy and a healthier economic position,” asking them to channel investments into other priority sectors such as automotive manufacturing, electronics, and biotechnology.
The President said such sectors will define the next chapter of the development of both the Philippines and the ROK.
The forum was organized in collaboration with the Philippine Chamber of Commerce and Industry and the Federation of Korean Industries, bringing together industry leaders to explore ways to enhance the business environment and strengthen economic ties between the two countries.
