$1.3B in investment pledges secured during President Marcos’ US visit
WASHINGTON D.C., United States — The Philippines has secured $1.3 billion worth of investment pledges during President Ferdinand “Bongbong” Marcos’ official visit to the US.
The President said this in his report before departing for London for the coronation of King Charles on Thursday (Friday, Manila time), adding that these investment commitments were expected to create about 6,700 jobs in the Philippines.
“I also met with quite a few US companies — both those looking to further expand their already valuable presence and operations in the Philippines and those looking to invest in our country for the first time,” Marcos said.
“They are all committed to be part of this development journey that we have embarked upon. We return to the Philippines with over $ 1.3 billion in investment pledges that have the potential to create around 6,700 new jobs for Filipinos within the country,” he added.
These investments , according to the President, will support the Philippines’ economic recovery efforts and further strengthen the foundations of the country’s economic environment.
He said more investments would materialize once the companies “firm up” their investment plans.
“Nevertheless, the interest is a welcome sign of their trust and confidence in the Philippines as an investment destination,” the President said.
“Together, we will be working on addressing some of our key economic challenges, particularly food, energy, and health security, digital connectivity, and the cross-cutting issues of climate change and pandemic preparedness,” he added.