$3.9B invest bonanza seen

The recent week-long visit of President Ferdinand “Bongbong” Marcos Jr. to the United States is seen to yield an investment value of about $3.9 billion (P223.04 billion), Malacañang announced on Thursday.

The President’s trip, it said, can generate an estimated 112,285 jobs from business agreements and commitments from the information technology, business process management, data centers and manufacturing, among other sectors.

The Office of the Press Secretary said, however, that the estimates do not reflect the full potential of future investments from several companies that the President and the trade department met with while in New York City.

Some firms, it said, have expressed interest in investing in the country — which he dubbed the “Asia’s fastest rising star” — but their plans have yet to be firmed up.

Marcos was in the US from 18 to 25 September to participate in the 77th session of the United Nations General Assembly in New York City, where he delivered a speech alongside other world leaders.

During his working visit, which he called “successful,” he met US President Joe Biden, other heads of state, business leaders, and potential investors on the sidelines of the said event.

World Bank meet

Aside from Biden, the President met Japan Prime Minister Fumio Kishida, King Abdullah II of Jordan, and French President Emmanuel Macron.

He also convened with several senior executives from American firms such as Procter & Gamble and the World Bank as well as the Filipino community in New Jersey.

Marcos said he is “satisfied” with the outcome of his trip.

His visit to the US transpired barely two weeks after he had a four-day state visit to Indonesia and Singapore, where he raked in $14.36 billion (P804 billion) worth of investment pledges.

The pledges were in the sectors of renewable energy, data centers, e-commerce, broadband technology, start-ups, government housing, and agriculture. They are expected to generate at least 30,000 jobs here and overseas.

At the grand opening of the New Terminal Building of the Clark International Airport in Clark Freeport in Pampanga on Wednesday, Marcos reiterated that the Philippines is open for business.

For Marcos, the newly opened facility can help the country as it strives to become Asia’s logistic center.

He emphasized that the Philippine government is ready to go the extra mile to nurture strong partnerships with potential investors.

The chief executive assured investors that the country is a good investment destination, “being probably the most vibrant economy in Southeast Asia.”

He vowed that his government will address potential investors’ requirements and needs and will do everything to build strong partnerships.

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