Thank you for joining us here in Davos to discuss the exciting opportunities the Philippines offers as your next big investment destination.

The Philippines is very serious about growth—not just steady economic growth, but strong, inclusive, and sustainable progress.

So, if you are looking for a place to grow your business and make more money, I have one message: Choose the Philippines. And we will make it happen.

Because we are only one of the few countries in the world, at this moment, that holds so much potential.

The Philippines is one of the fastest-growing economies in the Asia-Pacific region— not just in good times, but even when it faces the toughest global headwinds.

Since President Marcos, Jr. took office two years ago, we have grown at an average of 6 percent.

Major international organizations and multilateral institutions validate our economic strength as they see a continued acceleration of our GDP growth in the next years of more than 6 percent.

Our credit ratings, too, have been upgraded and reaffirmed by leading global credit agencies because of the steady progress of our fiscal consolidation.

We have a Road to A strategy to secure more A ratings in the future, guided by our Medium-Term Fiscal Plan that reduces our deficit and debt gradually in a realistic manner.

All while making sure that we invest in social services and infrastructure, create more jobs, increase incomes, and decrease poverty.

And we offer clear, undeniable opportunities for your investments to grow and prosper in our expanding domestic market.

Our people’s living standards have substantially improved, with declining poverty incidence, a low inflation environment, a steady revenue stream, and a strong consumer demand supported by a vibrant labor market.

And as we speak here today, the Philippines continues to rise. We are projected to be the world’s 13th-largest consumer market by 2030. And by 2075, we will be the world’s 14th-largest economy, overtaking France.

What makes this potential even more exceptional is that the growth of our domestic market is driven by e-commerce, making the Philippines the fastest-growing digital economy in ASEAN.

We are sustaining this momentum by expanding our digital infrastructure, implementing forward-thinking regulations in the digital space, and nurturing talent development.

For instance, our readiness for AI is underscored by our Philippine Digital Infrastructure Project and National Broadband Program. These are designed to enhance digital connectivity nationwide, particularly in underserved areas.

We also implemented new regulations to strengthen oversight of digital businesses, such as the Internet Transactions Act and the value-added tax on non-resident digital services. These aim to enhance safety in e-commerce and level the playing field for local and foreign digital businesses.

The competitive advantage offered by our demographic sweet spot—a young median-age population of only 25 years old—makes us your ideal demographic partner for the economy of the future.

Between 2025 and 2035, the Philippines’ working-age population is projected to grow by as much as 15 percent. This will be the fastest pace in the region.

With our focus on education, high English proficiency, and AI-related skills, Filipinos are the world’s most highly sought-after professionals.

We are continuously upskilling our workforce through our Artificial Intelligence Strategy Roadmap to harness their talents to fully power up your forward-looking industries.

Because we are not just keeping pace with global trends — we are ready to lead them.

In fact, the Philippines ranks among the leaders in AI adoption, with 86 percent of our knowledge workers utilizing AI in their daily tasks.

This surpasses the global average of 75 percent and even the regional average of 83 percent.

We are particularly harnessing AI to enhance the productivity of our Business Process Outsourcing workforce, considering that it is one of our biggest employment drivers and contributes about 30 billion US dollars to the economy annually.

Adding to all of these is our stable political environment, anchored by a president with strong political capital who is a friend to all.

Under President Marcos, Jr.’s leadership, the Philippines is now more open, liberalized, and ready for the world than ever before.

We introduced Green Lanes which fast-track permits and licenses for strategic investments. In 2024 alone, we endorsed 176 projects worth 77.64 billion US dollars for Green Lane, with renewable energy leading the charge.

This, along with granting of full foreign ownership for renewable energy projects has positioned the Philippines as among the most attractive developing economies for renewable energy investments globally.

Aside from this, we have allowed a hundred percent foreign ownership of high-impact public services such as telecommunications, toll roads, airports, and shipping.

Through our Public-Private Partnership Code, we created a stable and predictable framework for PPPs, particularly in infrastructure development.

In 2024 alone, we successfully awarded three PPP airport projects, including the modernization of our country’s main gateway—the Ninoy Aquino International Airport approved in just six weeks.

NAIA was the fastest-approved PPP proposal in Philippine history. This is a clear demonstration of how fast the Philippine government acts on investments. We do not just talk about business—we deliver it.

Our Build Better More Program consists of 186 flagship infrastructure projects worth 164 billion US dollars awaiting your expertise. These range from physical and digital connectivity to renewable energy and transport systems.

We invite you to submit unsolicited proposals, respond to solicited ones, or explore more joint ventures with us for these projects.

We are also developing the Luzon Economic Corridor as the future logistics and manufacturing super hub of the Philippines and Asia.

It is an ideal relocation hub, particularly for companies diversifying their location—especially manufacturing, semiconductor supply chains, sustainable agribusiness, data centers, and other high-growth industries.

To facilitate your swift entry into this corridor, we recently enacted amendments to our fiscal incentives regime, known as CREATE MORE.

This law was designed to address your concerns and tailor fiscal and non-fiscal incentives to meet your specific needs.

Simply put, CREATE MORE was carefully crafted to make MORE money for you and create MORE high-quality jobs for our people.

For example, we further streamlined business compliance by reducing documentary requirements.

We resolved VAT concerns by exempting export-oriented enterprises from paying value-added tax.

For projects with investment capital exceeding 256.53 million US dollars, we offer a very competitive incentive package.

Under the enhanced deductions regime, registered business enterprises benefit from a reduced corporate income tax rate of 20 percent.

Additionally, the maximum duration of tax incentives availment is extended by 10 more years, from 17 years to 27 years. For labor-intensive projects, this can even be extended for another decade.

Registered business enterprises benefit from the 200 percent deduction on power expenses—cutting costs for the manufacturing sector.

The tourism sector also gains with an additional 50 percent reduction for reinvestment allowances on priority tourism projects or activities.

Another significant reform underway is our proposal to reduce the tax on stock transactions from 0.6 percent to just 0.1 percent. This will lower friction costs and align us with our regional peers.

And I could go on and on—as the list of investment reforms in motion is very extensive. This is a direct result of the strong collaboration between the private sector and the government through our Private Sector Advisory Council created by the President upon his assumption.

This Council convenes twice a month to hear industry needs and solicit insights into shaping the government’s business policies.

We are ticking every box, covering every front, to ensure that the Philippines offers the best for the world.

And here’s our promise: The moment you step in, we will let you experience a home that nurtures your long-term growth and success.

There is predictability, stability, and sustainability in doing business in the Philippines. And if you have more concerns, I will personally do the hand-holding to make it easier, more rewarding, and more profitable for you to invest in the Philippines.

With that, thank you very much, and see you very soon in the Philippines.

Mabuhay ang Bagong Pilipinas!