Big Australian investors are expected to locate in the Philippines starting next year, a Cagayan Economic Zone Authority (CEZA) official said on Friday.
CEZA administrator and chief executive officer Raul Lambino claimed that investor interest was spurred by a roadshow organized by the Board of Investments, the Department of Trade and Industry and the Australia-Philippines Business Council.
Lambino, said Australian businessmen were looking to seize trade and investment opportunities that had opened up since President Rodrigo Duterte took office last year.
He claimed that Duterte, “in pursuit of what is right” had become a “game-changer” in attracting investors to take a closer look at the Philippine market.
The government has rolled out a five-year, P9.5-trillion infrastructure program, with heavy spending set for roads, bridges, airports and seaports that will make the country an “excellent haven for investment and business to thrive,” Lambino said.
Other support programs are being firmed up in agriculture, eco-tourism and outsourcing, he said.
These are areas of “deep interest for Australian investors,” Lambino said.