The Philippine Trade and Investment Centre – Sydney (PTIC-Sydney) in partnership with Ayala Land International, hosted the CEO business roundtable, an exclusive gathering of business leaders
held last Thursday, 23 February 2023 at the Republic Hotel in Sydney.
During the event, key opportunities in the Philippines for Australian businesses where discussed, including opportunities in the booming property market in the country and the Philippines being
part of the recently ratified Regional Comprehensive Economic Partnership (RCEP) Agreement – the world’s largest free trade deal.
Philippine trade representative to Australia, Alma Argayoso, highlighted the Philippines’ economic performance with 7.6% GDP growth in 2022 making the country as the second fastest growing
economy in ASEAN. Argayoso underscored in her remarks the favourable investment climate in the Philippines with foreign investors’ continued trust in the Philippine market and positive reaffirmation
from top and credible credit rating agencies.
“Locating in the Philippines means Australian companies will get access to the RCEP participating countries, convenient access to the ASEAN market, and to other key markets through our
Generalized System of Preferences (GSP) with other countries and regions such as EU, EFTA, UK, Russia, Canada and the US,” Argayoso explained.
“Investments are placed highly on the president’s economic agenda. With the Philippine government’s continued commitment to streamlining business processes, improving infrastructure,
and ensuring energy security combined with new legislations passed such as the CREATE Act, we are ready to make it happen for Australian investors in the Philippines,” Argayoso added
