FOR trade experts, it is critical for the Philippines to embark on investment facilitation as a “further step” beyond investment promotion, with the goal of retaining investors and encouraging them to expand or reinvest in the country.
“We need investments to create and develop industries that can trade either in the local or export markets,” the BOI official said. “Further, FDIs can provide the technologies to enhance industry competitiveness and market access…enable greater global value chain participation, and generate more foreign exchange. Thus, it is critical that we facilitate the flow of and realize the gains from FDIs.”
“Strengthening the investment framework should not just end at investment promotion, but extend to ensuring incoming investments can function smoothly throughout their [lifespans],” Philexport added. Moreover, investment facilitation promotes “greater transparency” of regulation and streamlining of procedures for investment, which the export group said “is very useful for small and medium-sized enterprises .”
Meanwhile, Philexport also cited the Organisation for Economic Co-operation and Development , noting that facilitation makes it easy for investors to establish or expand their existing investments.
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