Malaysian retail group eyes PH for duty-free airport shops
MANILA, Philippines — Malaysian retail specialist Valiram Group met with President Ferdinand “Bongbong” Marcos Jr. in Singapore on Saturday about their intent to establish duty-free airport outlets in the Philippines.
The Presidential Communications Office shared that a Valiram group representative conveyed the company’s ambition to expand its presence in the Philippines and introduce international brands that are either new to the market or have a limited presence currently.
Joining Marcos Jr. during the meeting were Speaker Ferdinand Romualdez, Presidential Communications Office Secretary Cheloy Velicaria-Garafil, Presidential Adviser Frederick Go, and Ambassador to Singapore Medardo Macaraig.
Romualdez emphasized the legislative body’s aim to streamline foreign investment processes by updating existing regulations.
“We are also evaluating the entirety of our legal framework, particularly focusing on older or outdated laws that may not be conducive to the present climate of promoting foreign investments. We are actively seeking ways to modify these laws to make the country more welcoming to foreign direct investments,” Romualdez said.