The Finance department urged the private sector to innovate their products and continue creating more jobs by establishing new businesses.
“Your job, I suppose, is to create more jobs by establishing new and sustainable enterprises. You are, after all, clients of the healthiest bank that promises to make things happen for domestic business,” said Finance secretary Carlos Dominguez III in a speech in Davao City.
Dominguez told businessmen now wass the best time for investors to put their money in the Philippines, especially in Mindanao.
“This is the best time to do business in our country. Interest rates are low. The growth trajectory is nearly certain. Government policies are most supportive. Investments in infra and property will create demand for jobs and, down the line, more robust consumer demand,” Dominguez said. “A golden age for entrepreneurs is in the offing.”
Dominguez said while most countries across the globe plodded through economic and political uncertainties, the Philippines was moving onward in the opposite path with growth expected to be sustained at 6.5 percent to 7.5 percent over the medium term.
The finance chief said investors would do well to venture into Mindanao because of its natural resources.
“The world is wracked by so much uncertainty due to Brexit, recession in some of the oil exporting economies, continued weakness of the European Union due to high levels of indebtedness among some member economies, the massive refugee problem and escalating terrorism. In the face of all these, our economy stands as one of the rare safe havens for investments,” said Dominguez.
