Pascual: Now up to PH gov’t to make foreign investment pledges real

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'Sometimes in the past that’s the bottleneck – the compliance with the regulatory requirements,' says Trade Secretary Alfredo Pascual.

TOKYO, Japan – The largest business delegation so far to join the President. Over 200 meetings set between Philippine and Japanese firms.totaling an estimated $10 billion signed. How soon might promised foreign investments start pouring into the Philippines?

“Most of these projects that were signed have done their preliminary investigations, they’re convinced already that they’re going to invest,” he said. “Sometimes in the past that’s the bottleneck – the compliance with the regulatory requirements.” “You’ll notice that there were companies, Japanese companies who signed letters of intent. That means its an intention. They will be in various stages of planning. Whereas others have signed memorandum of agreement, memorandum of understanding with their respective partners in the Philippines,” Pascual said.

 

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