– President Duterte thanked Russian business leaders for taking a chance in the Philippines while giving the assurance that his government will protect their investments as the two countries inked 10 business deals here Friday evening.
“The Philippines’ robust economy is attracting investors every year. Our growth rate is steady and going strong. Our national or annual GDP growth rate was positive for 82 consecutive quarters,” he continued. Duterte also boasted of the Philippines’ competitive fiscal and non-fiscal incentives to jumpstart qualified investment projects, including income tax holiday that exempts the company from the payment of the 30-percent corporate earning tax from four to six years from the start of commercial operations.
According to Duterte, the total trade between the Philippines and Russia reached $1.36 billion, and that Philippine exports to Russia also reached $86 million last year. Exchange of information on investment environment and opportunities; attract and support foreign investments in both the Philippines and Russia; encourage interested local companies in setting up or expanding their businesses; and organize business missions, workshops, other bilateral investments promotion activities ,
Century Pacific Food, Inc. will supply tuna and sardine products to LLC Dalpromryba to serve the Russian market , Promotion, distribution, and selling of IPP-NLS technologies, particularly Metatron Micro MRI Systems and its variations in the Philippines According to Lopez, Russia was also interested in oil and gas exploration, and in exploring the potentials in putting up mega power plants, and energy projects in some provinces in the Philippines.
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