The President and members of the RAUIE were invited the Russian-Philippine Business Forum as honored guests. They also attended a gala evening with the participation of President of the Republic of the Philippines Rodrigo Duterte, held on October 4, 2019 in Moscow.
The President noted the consideration of the possibility of various benefits for Russian investors: income tax holidays of 4-6 years, an additional bonus of 3 years subject to export profit and other conditions, a 20% reduction in corporate tax, preferences for the import of equipment and certain materials, and also simplified registration of work visas for Russians.
“We are determined to increase imports in the Russian Federation,” said President Rodrigo Duterte. “The growth of the economy of our country is strong and stable, the growth rate of GDP has been positive over 82 quarters, the average growth in recent years exceeds 6%. Our advantages are a young workforce and a strong macroeconomic base. We invite Russians to do business in the Philippines, ”said the president.
The Philippines is one of the fastest growing economies of the ASEAN countries and, according to the results of 2018, ranks second after Indonesia (4.7% growth per year). Due to its strategic position in Southeast Asia, the Philippines could become Russia's entry point to ASEAN and Southeast Asia.
Extraordinary and Plenipotentiary Ambassador of the Republic of the Philippines to the Russian Federation Carlos Sorreta and President of RASPP Vitaly Mankevich
The Philippines intends to expand cooperation with Russia on a mutual basis: create joint investment projects, increase bilaterial supplies of fish and seafood, chicken, chemical products.
Vitaly Mankevich and Philippine President Rodrigo Duterte
Filipino folk songs and dances were performed for the guests, and during informal communication, the President of the RAUIE, Vitaly Mankevich, personally thanked the President of the Philippines for the warm welcome and expressed hope for joint cooperation.
Recall, Philippine President Rodrigo Duterte was in Russia on a visit from October 1 to 5. He held meetings with various Russian officials, and also, together with Vladimir Putin, took part in a meeting of the Valdai Club.
