Pampanga project seen to attract foreign investors – DTI

The opening of the Global Construct City (GCG) project in Pampanga is seen to make the country more attractive to foreign investors, according to an official of the Department of Trade and Industry (DTI).

During the recent launch of Jinjiang Building Materials and Home Furnishing Exhibition Center at the GCG in Mexico City, Pampanga, DTI- Trade and Promotions Assistant Secretary Glenn Peñaranda commended the opening of the GCC project, one-stop wholesale market for large-scale building materials in the country.

He said the GCG project not only envisions more affordable building and home materials for Filipinos, but also contributes to make the Philippines more attractive to foreign investors while providing jobs to people in the area toward a post-pandemic economic recovery.

“It is truly inspiring that we have established local businessmen who continue to invest in the development of our local enterprises and bring in foreign investors in the process, ”Peñaranda said.

The trade official graced the event to further promote the Philippines as a strategic location for investment on factories and assembly plants.

Citing real estate management firm Colliers, the DTI emphasized that Central Luzon is now gradually becoming a preferred industrial hub in the Philippines.

“Having 307 hectares of industrial space and existing industrial parks such as Global ASEAN Business Parks 1 and 2, and the San Simon Industrial Park, Central Luzon is vital in attracting jobgenerating manufacturing investments in our aim of robust economic growth and sustainable development for the country ,”the DTI said.

Meanwhile, Peñaranda gave assurance of support from the Philippine government, together with the Philippine Embassy and Consulates in China, to help Chinese businessmen through the facilitation of services, such as visa, business registration, and incentives as they pursue their business in the country.

In line with the issuance of Executive Order 18, which mandates the establishment of green lanes for strategic investments, Trade Secretary Alfredo Pascual has said that the DTI, with the support of the Philippine government, would enable cross-cutting mechanisms to ease and attract foreign investments.

“The establishment of green lanes will fast-track the processing of permits and licenses and offer the Board of Investments as a single point of entry for strategic investments. We encourage you to consider the opportunities this mechanism offers, ”he said.

The DTI is keen on ensuring an enabling business environment in the Philippines as it aims to promote the Philippines as an investment destination in the region.

“I wish the delegation success in their visit, and to the Chinese investors who are already in the country, rest assured that you will always have our continued support as you grow and expand your businesses in the Philippines,” Peñaranda said.