Marcos overseas trips helped boost FDI inflows

Marcos’ overseas visits help boost FDI inflows, says trade chief

By: - Reporter / @JMangaluzINQ
/ 06:04 PM February 19, 2024

MANILA, Philippines — Trade Secretary Alfredo Pascual on Monday attributed the rise in foreign direct investments (FDI) flows into the Philippines to the overseas visits of President Ferdinand Marcos Jr.

In a statement released through the Palace, Pascual said the latest report from the Bangko Sentral ng Pilipinas (BSP) showed promising results. The BSP said FDI inflows in November rose by 27.8 percent.

READ: Net FDI inflows soared to near two-year high in November 2023


“The pipeline of projects initiated during President Marcos Jr.’ presidential visits, along with the goodwill fostered, is starting to yield tangible results, as shown by the latest FDI report from BSP,” said Pascual.


“From January to November last year, we observed a substantial rise in FDIs in manufacturing and a significant surge in FDIs originating from Germany,” Pascual said.

Japan, Singapore, and Germany were the Philippines’ primary sources of equity capital placements, according to the DTI.

Germany increased its investments in the Philippines to $149.80 million in January to November 2023 from $8.96 million in the same months in 2022.

READ: Lifting restrictions on foreign investments ‘good for economy’

“Certainly, the presidential visits have been impactful for the Philippine economy, signaling to both local entrepreneurs and foreign investors alike the government’s commitment to fostering a conducive environment for economic prosperity. The Philippines has become a premier investment destination for foreign businesses in Asia,” Pascual said.

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: Bongbong Marcos, DTI, foreign direct investments

© Copyright 1997-2024 | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.