BCCP Executive Director Chris Nelson shared his views on the country’s efforts to attract foreign investors in the Philippines during the Insight program with April Lee Tan. The CREATE bill is soon to be enacted into a law and is now up for the Philippine president’s signature, after Congress has approved its final reading this month. Chris Nelson recognizes the significant step forward made by the Philippine government, however he noted that there is still a lot of work needed to do for the country to remain competitive over its neighboring ASEAN countries.
To attract FDIs, Chris Nelson shared the need to pass other key economic reforms and amendments to the Retail Trade Liberalization Act, Public Services Act and consistent implementation of Anti Red Tape Act. Significantly, the Chamber supports the calls for the Philippines to be placed under Modified General Community Quarantine (MGCQ), but health protocols must remain in place.
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