THE presidential and state visits of President Ferdinand R. Marcos Jr. this year have resulted in $5.28 billion, or PhP294 billion, worth of actualized investments, according to the Department of Trade and Industry (DTI).
DTI-Board of Investments (BOI) Undersecretary Ceferino Rodolfo said that President Marcos’ foreign trips have actualized $4.089 billion (PhP227.72 billion) investments for eight projects; $790.58 million (PhP44.02 billion) for 11 projects; and, $398.17 million (PhP22.17 billion) for nine projects as of December 21.
Rodolfo said that the investment pledges committed to President Marcos in his official foreign trips that were actualized into projects have already been registered with investment promotion agencies such as the BOI and the Philippine Economic Zone Authority (PEZA).
“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; and 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,” Rodolfo said.
President Marcos said that 2023 is a year of “structural changes,” which are essential for the country’s recovery from all economic challenges left by the COVID-19 pandemic as he vowed to continue the modernization of the government in 2024.
