BENGALURU—President Ferdinand R. Marcos Jr. on Thursday identified key industries where the Philippines is actively seeking strategic investments and partnerships with Indian companies under his administration’s “Bagong Pilipinas” vision.
“We have identified six priority sectors for long-term collaboration. These include electric vehicles, fast electronics, renewable energy, high-tech agriculture, healthcare, and cybersecurity,” President Marcos said during the Philippines-India Business Forum held at the West End Court in Taj West End Hotel here.
“In each of these sectors, we envision joint ventures and technical collaborations that build enduring industrial capabilities,” the President added.
President Marcos pointed out that each of these industries indicated “strong alignment with Indian industry’s global footprint and a tremendous potential for shared success.”
“So as we strengthen and deepen our investment linkages, we are also looking to deepen our trade framework. The Philippines is ready to begin formal discussions on the Philippines-India Preferential Trade Agreement, a crucial tool that we believe can enhance two-way trade, encourage product diversification and support modern supply chain integration,” President Marcos said.
During the Philippines-India Business Forum, President Marcos emphasized the Philippines and India’s complementary strengths and shared vision for inclusive, innovation-driven growth in the Indo-Pacific region.
“Together, we can share and then shape regional norms, deepen supply chain resilience and lead in inclusive innovation. We are also opening new avenues for investment in areas where India is demonstrating global leadership and where the Philippines is strategically positioned to contribute,” the President said in his speech.
Business leaders from both the Philippines and India warmly welcomed President Marcos and his delegates, including Department of Foreign Affairs Secretary Ma. Theresa P. Lazaro, Department of Health Secretary Teodoro Herbosa, Special Assistant to the President for Investment and Economic Affairs Frederick Go, Department of Trade and Industry Secretary Cristina A. Roque, Department of Finance Secretary Ralph Recto, and Department of Information and Communications Technology Secretary Henry Aguda.
President Marcos is in Bengaluru as part of a State Visit to India from Aug. 4 to 8, wherein the Philippines and India elevated bilateral relations to a Strategic Partnership. | PND
