Most senators give Bongbong Marcos high grades, seek focus on foreign investments

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BALER, Aurora—President Ferdinand “Bongbong” Marcos Jr. should build on his initiatives to promote the Philippines internationally as a viable investment destination, Sen. Juan Edgardo Angara said on Friday (June 30), giving Marcos a grade of 87 in his first year in Malacañang.

“(There’s) still a lot to do since he’s only (on the) one-sixth of his term. (He has) five more years,” Angara told reporters after leading the commemoration of the 21st Philippine-Spanish Friendship Day here.

“Also, there are new members of the Cabinet. (They have to deal with) the learning curve. So you’ll expect they’ll be busier in the coming months,” he said.

According to the senator, the President should focus on securing more foreign investments amid global security issues and other political developments.

“The way he’s telling the world that the Philippines is again open (for business), I see that as his way of providing jobs and reviving the economy to bring food to our tables,” he said.

Senate Majority Leader Joel Villanueva and fellow administration Senators Nancy Binay and Christopher “Bong” Go also gave positive marks for Marcos’ maiden year in office.

Villanueva said the President’s foreign trips have so far netted some P3.48 trillion in investment pledges, which could translate into thousands of domestic jobs if realized.

“As a staunch advocate of labor and employment policies toward decent employment for all, we laud the President’s efforts (to look) for potential investors to do business in the Philippines,” Villanueva said.

“The further easing of our unemployment rate back to pre-pandemic level is a good indicator that the economic strategies of this administration are working,” he said.

For Binay, the year-old Marcos administration was able to enforce policies to resuscitate the country’s economy from the debilitating effects of the COVID-19 pandemic.

“The goal is to push for more investment-driven strategies for long-term growth and development,” Binay said.

“And I believe that the strong investor confidence that the Philippines is reaping is brought by Malacanang’s clarity and consistency in policies and investment direction,” she added.

Go said it was understandable for Marcos to frequently fly out of the country in the early part of his term.

It was important Marcos to “showcase the beauty and stability” of the Philippines, he said.

“The President is our number one marketing agent, who also manages efforts to bring in investments and opportunities for our people,” Go said.

The President’s efforts, however, failed to impress Senate Minority Leader Aquilino Pimentel III, who said that Marcos “has not made any headway in our problems in the agricultural sector.”

He said it would be better for the President to designate a permanent agriculture secretary, a position that Marcos concurrently heads since he started his tenure on June 30, 2022.

“In sugar matters alone, his administration has had two controversies in less than one year in office. Smuggling is still rampant,” Pimentel said.

“(The) prices of onions and other basic food items are still very expensive and beyond the means of ordinary citizens. Inflation is still a problem,” he added.

TSB