The Philippines signed the 5th Protocol to amend the ASEAN Comprehensive Investment Agreement at the ASEAN Meeting in Laos in the first week of October 2024 to enhance its investment regime and attract more foreign direct investments.
DTI Undersecretary Allan Gepty highlighted the benefits of the protocol, noting that it provides a more stable and predictable business environment for investors. “This is aligned with the country’s policy to pursue an advanced, purposive and forward-looking agreement,” Gepty said.
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