Marcos’ foreign trips yield $14.2B in actual investments —  DTI

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Marcos’ foreign trips yield $14.2b in actual investments --  DTI
President Ferdinand Marcos, Jr's trip to Vietnam late January. Photo from the Presidential Communications Office.
  • President Ferdinand Marcos Jr.’s foreign trips yielded $14.2 billion in realized investments, according to the Department of Trade and Industry
  • 46 projects are operational, have completed their registration with DTI’s investment promotion agencies, or in some stage of implementation
  • The amount is equivalent to 20% of total pledges worth $72.2 billion as of December involving 148 projects

President Ferdinand Marcos Jr.’s foreign trips have yielded $14.2 billion in actual investments involving 46 projects, according to the Department of Trade and Industry.

The investments are either already operational, have completed their registration with DTI investment promotion agencies, or in some stage of implementation.

They span various sectors, including manufacturing, information technology and business process management (IT-BPM), renewable energy, infrastructure, transport and logistics, agriculture, and retail, DTI said in a statement.

Key countries contributing to investments include Japan, with 21 projects, and the US, with 13.

The realized investments are equivalent to 20% of total pledges worth $72.2 billion as of December for 148 projects. In the pre-implementation or planning stages, with some requiring an extended implementation period of up to seven years are 102 projects valued at $58 billion.

The DTI emphasized that investment commitments in IT-BPM and light manufacturing, though modest in foreign direct investment values, contribute significantly to lowering the unemployment rate in the country.

The establishment of Green Lanes through Executive Order No. 18 in February 2023 has further attracted investors, with 41 projects receiving green lane certification, 20 of which were the result of Presidential visits, as of February 8.

READ: Green lanes for strategic investments launched

“Our dedication to turning investment pledges into reality is unwavering. We also leverage each presidential visit as a springboard for building up a pipeline of investment opportunities and making the Philippines an investment destination of choice,” Trade Secretary Alfredo Pascual said in a statement.