Finance Secretary Carlos Dominguez III assured European businessmen that transparency will prevail in the government’s massive infrastructure projects that will link communities, enhance productivity and create new jobs, especially in the countryside.
Dominguez, speaking during a meeting with key officials of the Europe-Asean Business Alliance, said the Philippines was open for business, especially in the area of infrastructure development. He said he wanted to see companies from Europe participating in the bidding of these projects.
Dominguez told EABA members that the government was “very transparent” in its transactions, and continued to pursue reforms in the country’s tax system following the enactment this year of the first package of the Duterte administration’s Comprehensive Tax Reform Program, which reduced personal income tax rates while raising additional revenues to help support the government’s ‘Build, Build, Build’ infrastructure program.
The EABA members informed Dominguez and Trade Secretary Ramon Lopez that they were interested in contributing to the economic reform agenda of the Duterte administration, by setting up businesses, which they said were “an important contributor to economic prosperity.”