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PBBM secures $672-M investment pledges from APEC participation, says Palace
PBBM secures $672-M investment pledges from APEC participation, says Palace
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PBBM secures $672-M investment pledges from APEC participation, says Palace
by Christhel Cuazon21 November 2023
Photo courtesy: Presidential Communications Office (PCO) website

The recent participation of President Ferdinand 'Bongbong' Marcos Jr. in the 30th Asia-Pacific Economic Cooperation (APEC) Economic Leader's Meeting last week has earned the country at least $672 million worth of investment commitments, according to Malacañang.

In a statement on Monday, the Palace share a breakdown of the amount of investment pledges secured in the following industries:

  • Telecommunications - $400 million
  • Semiconductor and electronics - $250 million
  • Pharmaceutical and healthcare - $20 million
  • Artificial intelligence (AI) for weather forecasting - $2 million
  • Renewable energy - $0.3 million

Aside from this, Marcos also signed agreements between American and Filipino firms for the healthcare industry, particularly the planned hospital for cancer patients.

A manufacturing facility envisioned to boost the country’s position in the pharmaceutical industry is also in the pipeline, the Palace added.

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