Marcos US visit yields $3.9-billion investment pledges
President Ferdinand “Bongbong” Marcos Jr. has received USD3.9 billion in investment pledges during his working visit to the United States (US) last week, according to a report by Philippine News Agency.
These business agreements and commitments, which are expected to generate 112,285 jobs, will come from different sectors such as Information Technology and Business Process Management (IT-BPM), data centers and manufacturing.
The Palace clarified that the estimates do not reflect the full potential of future investments from several companies that the President and the trade department met while in New York.
“...Some companies had expressed interest in considering new or further investments in the country, but their plans have yet to be firmed up,” Malacañang said in a press release.
Marcos’ working visit to the US was held from Sept. 18 to 24. This was his third overseas trip since assuming office in June.
During his six-day working visit, he first met with the Filipino community in New Jersey.
He participated in a business dialogue with members of the US-Association of Southeast Asian Nations (Asean) Business Council and the US Chamber of Commerce, seeking partnerships with American investors.
Marcos also presented the Philippine government's priorities aimed at bringing progress and development to the Philippines during a meeting with top World Bank executives.
During the Philippine Economic Briefing in New York, he also enjoined American investors to take advantage of the Philippines' economic resurgence.
He said business leaders and investors from different US companies he met have committed to be a part of the Philippines’ development and economic growth.
The highlight of Marcos’ trip was his participation in the 77th session of the United Nations General Assembly (UNGA) where he delivered the "message of unity" before world leaders.
He also met with various heads of state, including US President Joe Biden, Japan Prime Minister Fumio Kishida, and French President Emmanuel Macron.
On Wednesday, Marcos described the grand opening of the New Terminal Building of the Clark International Airport in Clark Freeport in Pampanga as a “strong signal” to the world that the Philippines is open for business.
He also assured investors of the government’s commitment to promote ease of doing business in documentation, procedure, structure, legislation, to encourage investors to do business in the Philippines.
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