Marcos welcomes foreign direct investments from HSBC

HSBC Bank logo is seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

MANILA, Philippines — President Ferdinand Marcos Jr. on Thursday said he looked forward to foreign direct investments from the Hong Kong and Shanghai Banking Corporation (HSBC).

Business executives from the HSBC paid Marcos a courtesy visit to Marcos in Malacañan Palace.

HSBC: Foreign firms keen on expanding to PH

“As HSBC nears 150 years in the Philippines, we commend their ongoing dedication to our country’s progress. We look forward to their increased involvement in key sectors like climate finance and FDI,” Marcos said in a Facebook post after the meeting.

According to the Palace, the HSBS signified its support for the government’s economic agenda program.

“Today, we are left, as one of the few international banks. But our commitment to the Philippines, and continuing to invest, continuing to work here remains absolutely intact,” HSBC Holdings Group Chairman Mark Tucker told Marcos in the meeting.

In turn, Marcos said that the Philippines has tried to open its economy since partnerships are necessary.

HSBC has been in the Philippines since 1875, with branches now in Manila, Cebu and Davao.