President Marcos’ foreign trips this year have translated into P300 billion worth of “actualized” investments, the Department of Trade and Industry said.
Since he assumed office, some 200,000 job opportunities were likewise generated from his visits abroad.
DTI-Board of Investments Undersecretary Ceferino Rodolfo said the projects have already been registered with the BOI and Philippine Economic Zone Authority.
Rodolfo said the materialized investments amounted to P227.72 billion for eight projects; P44.02 billion for 11 projects, and P22.17 billion for nine projects as of Dec. 21.
“Some of these projects have short gestation periods and are already fully operational and are already employing full-time Filipinos, producing goods or delivering services,” Rodolfo said.
“Some are already setting up or expanding their facilities – but are nevertheless already employing Filipinos as they already have set up or expanded their offices and physical presence in the Philippines,” the Trade official added.
Since Mr. Marcos was elected in 2022, the consolidated and processed investments from his foreign trips already reached some P4.019 trillion, comprising at least 148 projects in various stages, the DTI previously said.
The Trade department said that the investments were mostly in the sectors of manufacturing, IT-BPM, renewable energy, data centers, and telecommunications.
In terms of volume of job creation, Mr. Marcos’ trip to New York in September 2022 generated a significant 98,000 job opportunities, followed by China in January this year at 32,722 and Japan in February at 24,000.