The Department of Trade and Industry (DTI) praised the establishment of a one-stop wholesale market for large building materials in Pampanga as it will help attract more foreign investors to the Philippines.
The Jinjiang Building Materials and Home Furnishing Center general market opened on Friday in Global Construct City, Mexico City.
“It is truly inspiring that we have local business people who continue to invest in the development of our local businesses and attract foreign investors in the process,” said DTI Assistant Secretary of Foreign Trade Glenn Peñaranda.
He added that the launch of the universal market would make the Philippines more attractive to investors, which would help create jobs.
“I wish the delegation success in their visit, and to the Chinese investors who are already in the country, rest assured that you will always receive our continued support as you grow and expand your business in the Philippines,” Peñaranda told the visiting Chinese. delegation
The launch of the universal building materials market comes after Commerce Minister Alfredo Pascual welcomed the signing of Executive Order (EO) 18 Series 2023 establishing green lanes for strategic investment.
Greenways are authorized to expedite or speed up the processes for issuing licenses, permits and other certificates for strategic investments approved by the One Action Center for strategic investments.
“This PR complements our efforts to promote a robust economic recovery and expansion. It facilitates the ease of doing business, as national government agencies, including their regional and provincial offices, as well as local governments, are now authorized to create green lanes that will quickly track the process of obtaining the necessary licenses and permits for strategic investments, said Pascual.
“This increases the attractiveness of our country as a place for investment,” he added.
In addition, Davao City Mayor Sebastian “Baste” Duterte and Zhang Wenxian, senior adviser to the Jinjiang Municipal Government of China, recently signed a Framework Agreement for Economic, Trade and Business Development involving their respective localities.