Philippine President Ferdinand “Bongbong” Marcos Jr. received USD 3.9 billion in investment pledges during his working visit to the United States (US). The visit is part of the President’s trip to the US to address the 77th Session of the United Nations General Assembly.
On 22 and 23 September, President Marcos conferred in New York and Washington with the top executives in the sectors of IT-Business Process Management, Digital Infrastructure, Manufacturing, Logistics, and Wearables. The President identified areas of possible partnership with the United States, including improving the business climate, building the necessary physical infrastructure, and upskilling the workforce. The US companies cited the Philippines’ young, trainable human resources as a primary value proposition for the country in attracting foreign investment. President Marcos also underscored the recent strategic policy reforms and economic liberalization laws that will make it easier for foreign investors to do business in the country.
The US-led Indo-Pacific Economic Framework (IPEF), an economic initiative launched by the United States in which the Philippines is participating, was cited as another platform by which US and Philippine business relations may be strengthened. President Marcos encouraged US companies to look at the Philippines equally as a valuable contributor to their global business growth and as a partner in rebuilding the economies of both the Philippines and the US.
(Sources: PNA; DTI)