Duterte not expected to sign deals with Thai businessmen: Lopez

June 21, 2019

President Rodrigo Duterte is not expected to sign any deals with Thai businessmen during his visit at Bangkok at the 34th ASEAN ( Association of Southeast Asian Nations) Summit.


Trade and Industry Secretary Ramon Lopez, in a press briefing, said Duterte is set to meet businessmen in Thailand to present the Philippines as a "very good" investment destination.


"There are no deals to be signed because- well, the President is scheduled to meet a group of Thai businessmen, members and basically leaders of the Federation of Thai industries, business chambers in Thailand as well as private companies who are in banks, food manufacturing, agriculture agribusiness, real estate," he said.


"So it will be an open discussion that will basically allow the President to present the Philippines as a very good investment destination," he added.


Lopez said some Thai investment companies are operating in the Philippines so the government will just ask them to be more active and increase their exposure and their investments.


"Definitely, the President will assure them with all these guarantees of protection of their investment as well as present to them... credit rating,reforms being undertaken (with respect to) investments, banks, financial reforms, as well as liberalization of foreign investment," said Lopez.


"We are the second fastest-growing in the ASEAN region, so we would like to re-emphasize that," he added.

Duterte is set to leave Friday from Davao. Ella Dionisio/DMS