Malacañang on Thursday announced that Php 239 billion out of the Php 3.48 trillion worth of investment commitments that President Ferdinand 'Bongbong' Marcos Jr. has secured during his foreign trips have materialized.
"Of the commitments, US $4.349 billion or P239 billion have materialized with the companies in various stages of implementation of their projects in the country," the Presidential Communications Office (PCO) said in a press release.
According to Department of Trade and Industry (DTI) Secretary Alfredo Pascual, a total of US$ 62.926 billion, or Php 3.48 trillion, was generated from Marcos' foreign trips.
To break down the US $62.926 billion, the President has secured the following:
- Indonesia, US$8.48 billion
- Singapore, US$6.54 billion
- United States: US$3.847 billion
- Thailand, US$4.62 billion
- Belgium: US$2.20 billion
- China: US$24.239 billion
- Japan: US$13 billion
In a video message, Marcos reported that the Memorandum of Agreement (MOA) signed in Indonesia and Singapore will start to bear fruit in the coming weeks.
"We will be starting to inaugurate some of these projects already," he added.
The President also said that he already met the officials of the DTI and the Office of the Presidential Assistant on Investment and Economic Affairs (OPAIEA), and they reviewed some rules and regulations to ensure that these are investor-friendly.
"Tapos 'yung mga bagay-bagay na nakikita namin problema at sinasabi ng mga investor na sagabal sa kanilang pag invest, we also list down," he added.
