President Ferdinand ‘Bongbong’ Marcos Jr. announced on Monday, Dec. 18, that he secured ₱14.5 billion worth of new investment pledges in his attendance at the 50th Commemorative Association of Southeast Asian Nations (ASEAN) – Japan Friendship and Cooperation Summit.
In an official Facebook post, Marcos boasted that the pledged investments were expected to create 15,750 jobs for Filipinos.
"We have sealed an additional PHP 14.5 billion worth of deals, set to create 15,750 more jobs in the Philippines! These collaborations with Japanese firms expand opportunities in tech, manufacturing, and services," he said.
"Both the Pledges and New Agreements Event and the Keidanren and JCCI luncheon served as pivotal platforms to strengthen and reaffirm our robust ties with Japan and ASEAN," the President added.
Speaking to the local reporters in an interview, Marcos said nine Japanese firms made the pledges during their meeting on the sidelines of the ASEAN Japan Summit. The said Japanese firms came from the sectors of semiconductors, healthcare and infrastructures.
He noted that the pledges were "extensions" of the existing business contracts that he was able to seal when he first visited Japan in February this year.
"But some of these are extensions of the existing contracts, mag-expand lang sila ng operation nila. But the more important part is that 20,000 plus new jobs," the President said.
In a separate development, Marcos reported that ₱169.7 billion out of ₱708.2 billion investment pledges he sealed in Japan in February "has already materialized as of December 2023."
"This has generated 9,700 jobs, with more to come towards our goal of 24,000 jobs," the President said in a Facebook post.
