Dominguez urges Swiss investors to invest in the Philippines

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Finance Secretary Carlos Dominguez III explains how the implementation of the Republic Act No. 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) law can benefit the citizenry and the government during a press briefing at the New Executive Building in Malacañang on January 8, 2018. TOTO LOZANO/Presidential Photo

THE DEPARTMENT of Finance (DoF) has invited Swiss businessmen to set up shop in the Philippines as the Duterte administration pursues more reforms to streamline investment amid its wide consumer base.

“We hope Swiss businesses could find a home here — a happy one. We are working very hard to improve the ease of doing business and reducing our (Foreign) Investment Negative List to the bare minimum. From being mocked as ‘The Sick Man of Asia,’ the Philippines is now seen as the region’s next economic powerhouse,” Finance Secretary Carlos G. Dominguez III said during March 6 meeting with members of the Philippine-Swiss Business Council.

He said the Philippines’ “young and talented labor force, our large consumer market and our determined participation in building a Southeast Asian common market produce much headroom for sustainable growth.” — Elijah Joseph C. Tubayan