President Ferdinand Marcos Jr.’s recent trip to the United States could generate close to $4 billion (about P236 billion) in investments from multiple sectors, Malacañang said on Wednesday.
According to investment data released by the Palace, business agreements and commitments secured during the President’s visit have an estimated investment value of $3.9 billion, with a potential employment generation of 112,285 jobs.
These investments will come from the Information Technology and Business Process Management (IT-BPM), data center, and manufacturing sectors.
However, Malacañang said, the estimated value does not reflect the full potential of future investments from several companies that Mr. Marcos and the Trade Department had talks with while in New York.
According to the Palace, some companies had expressed interest in considering new or further investments in the country, but their plans have yet to be firmed up.
At the grand opening of the New Terminal Building of the Clark International Airport in Clark Freeport in Pampanga, the President reiterated that the country is open for business, and the government is ready to go the “extra mile” to nurture strong partnerships with potential investors.
“And this facility is essentially a very strong signal that yes, indeed, we are open for business,” he said during the event.
The Philippines, Mr. Marcos said, is a “good investment destination” being probably the most “vibrant economy” in Southeast Asia.
The President said his administration understands the potential investors’ requirements and needs, and it will do everything to build strong partnerships.
Mr. Marcos said he carried this message when he traveled to New York last week to attend the 77th United Nations General Assembly and meet American business leaders and heads of corporations.
Wednesday’s opening of the new Clark airport terminal is also a perfect example of a positive outcome of public and private sector collaboration, as both sectors leverage their assets through strong partnership, the President said.
The new facility is also important as the country strives to become Asia’s logistics center, Mr. Marcos added.
In his arrival speech on September 25, the President said his delegation had hosted four roundtable discussions that dealt with key economic sectors like IT-BPM, digital infrastructure, global brands, industry, and infrastructure.
He also met with the Asia Society where he had discussions with several leaders of the US business community regarding the state of the global and regional economy today.