Australian companies are monitoring the passage of the tax reform law in the Philippines to have a clearer understanding of their response to such business development, newly-designated Australian Ambassador to the Philippines Steven Robinson said Thursday.
“Once they know how the legislation looks like, business will be able to make up its mind on how it deals with situations like that,” Robinson said at the sidelines of the general membership meeting of the Makati Business Club in Makati City.
“They see an enormous opportunity here in the Philippines, not just because of what happened in the last few years, but the positive growth over 6 percent of the economy is really remarkable. That’s a phenomenal situation for any country to be in. It’s admirable where the Philippine economy is headed and we’d like to be a part of it,” he said.
Robinson said a lot of Australian companies were keen on exploring investments in the Philippines.
“Irrespective of how the political situation unfolds, I think more Australian companies are willing to invest here and continue to regard the Philippines as a prime investment country,” he said.