Secretary Fred Pascual of the Department of Trade and Industry (DTI) showcased the Philippines’ open arms to global investments, with a particular focus on the Halal industry, during the 6th Philippine National Halal Conference held at the SMX Convention Center in Taguig City on 22 November 2023. This event was part of the broader celebrations of Invest Philippines Week.
Highlighting the significance of the Philippine Halal Economy Festival, Secretary Pascual reiterated the country’s dedication to fostering an environment conducive to trade and investment. He emphasized, “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’.”
Responding to questions from The Filipino Times, Secretary Pascual identified targeted sectors, including infrastructure, game development, software, industrial manufacturing, and transport.
Encouraging a diverse group of participants to explore collaborative opportunities, Secretary Pascual stressed the importance of 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 Promotion Agencies (IPAs), Halal experts, industry leaders, startups, diplomats, policymakers, investors, and stakeholders, strategically facilitated discussions, exchanged ideas, addressed challenges, and showcased investment opportunities across various sectors.
Secretary Pascual also underlined the commitment to providing investors with a comprehensive understanding of the Philippine investment landscape and the distinctive qualities that make ASEAN an appealing destination. Beyond investments, the event delved into the vibrant ecosystem propelling the Philippines to become ASEAN’s next startup hub, with industry leaders, entrepreneurs, and policy influencers exploring factors, innovations, and collaborative efforts positioning the country as a hub for startup excellence in the region.
Acknowledging the importance of nurturing the Philippine Halal industry, Secretary Pascual committed the full assistance of the Department to those seeking to invest in the country. He emphasized the need to develop the Philippine Halal industry to create a prosperous, inclusive, and Halal economy.
The DTI will head a nine-government inter-agency task force dedicated to formulating a comprehensive roadmap. This roadmap seeks to position the Philippines as a premier, business-friendly trade and investment hub in the Asia-Pacific region.
His Excellency Dato Abdul Malik Castelino, the Malaysian Ambassador, added a significant dimension to the event. Responding to a question about the progress following PBBM’s visit to Malaysia in June, he shared, “We are currently in the process of identifying suitable sites for the contracted projects, with a primary focus on establishing a dairy and farm. Additionally, we anticipate the arrival of a Halal restaurant chain from Malaysia, and we are actively scouting locations for various projects across the country.”
Highlighting the strength of a whole-of-government approach, Secretary Pascual stressed, “Our investment promotion efforts represent a significant step in the nation’s journey toward becoming a prominent investment destination in the ASEAN region. Invest Philippines Week serves as an important avenue to discuss untapped potentials and explore opportunities to attract global investments, contributing to the country’s robust economic growth and expansion.
