Palace: Marcos gets $3.9B investment pledges from US trip

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MANILA – Malacañang on Thursday announced that President Ferdinand “Bongbong” Marcos Jr. has obtained USD3.9 billion in investment pledges during his working visit to the United States (US) last week.

These business agreements and pledges will come from a variety of industries, including Information Technology and Business Process Management (IT-BPM), data centers, and manufacturing, and are estimated to generate 112,285 jobs.

The President and the trade department spoke with various corporations while in New York, and the Palace clarified that the estimates do not fully account for their potential future investments.

“…Some companies had expressed interest in considering new or further investments in the country, but their plans have yet to be firmed up,” Malacañang said in a press release.

From September 18 to 24, Marcos’ working visit to the US took place. This was his third overseas trip since assuming office in June.

He first met with the Filipino community in New Jersey during his six-day working visit.

He took part in a business discussion with members of the US-Association of Southeast Asian Nations (Asean) Business Council and the US Chamber of Commerce in an effort to establish partnerships with American investors.

During a meeting with top World Bank executives, Marcos also presented the Philippine government’s priorities for bringing development and progress to the Philippines.

He also enjoined American investors during the Philippine Economic Briefing in New York to take advantage of the Philippines’ economic resurgence.

He stated that business leaders and investors from various US companies he met have pledged to contribute to the development and economic growth of the Philippines.

Marcos’ participation in the 77th session of the United Nations General Assembly (UNGA) where he delivered the “message of unity” before world leaders was the highlight of his trip.

Additionally, he had meetings with a number of heads of state, including US President Joe Biden, Japan Prime Minister Fumio Kishida, and French President Emmanuel Macron.

Marcos on Wednesday described the inauguration of the New Terminal Building of the Clark International Airport in Clark Freeport in Pampanga as a “strong signal” to the world that the Philippines is open for business.

In order to entice investors to conduct business in the Philippines, he also assured investors of the government’s commitment to increase ease of doing business in documentation, procedure, structure, and legislation.

House committees to hold hearings during break

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Spread the loveMANILA – The House of Representatives has authorized for its committees to conduct hearings during the five-week congressional break, extending until late April.