- President Rodrigo Duterte disclosed the interest of Indian businessmen to invest in the Philippine’s telecommunications industry
- He promised protection to the businessmen if they pay the right taxes
- Duterte received investment pledges from India amounting to $1.25-billion
President Rodrigo Duterte disclosed the interest of Indian businessmen to invest in the country’s telecom industry, GMA News posted on Tuesday; quoting a statement from the executive leader during the induction ceremony for the new officials of the Federation of Indian Chambers of Commerce Philippines, Inc. (FICCI) in Malacanang.
“India is also interested to enter the telecom industry,” he said; referring to his visit to New Delhi last month.
“We are considering and invited them in my talks with the businessmen of India during my official visit.”
Duterte promised businessmen protection against corruption.
“As long as you pay the right taxes, just the exact price, no more, no less, then you are free of any interventions or trouble. That is the assurance I will give you. Everybody will be protected and I will go after those persons in government who are still into corruption.”
He said his visit is to invite the business people and protect them if they do the right thing as paying the right taxes; the leader also encouraged them to report corrupt practices to his office.
Duterte received investments pledges, amounting to $1.25-billion from his visit, in the field of pharmaceutics, information technology, energy, tourism, medical wellness and business process outsourcing.