Marcos snags $3.9B in investment pledges

(UPDATE) PRESIDENT Ferdinand “Bongbong” Marcos Jr. has secured $3.9 billion in investment pledges that could create more than 112,000 jobs during his working visit to the United States last week.

In a statement Thursday, Malacañang said the investments will come from various sectors, including Information Technology and Business Process Management (IT-BPM), data centers, and manufacturing.

The Palace clarified the estimates would not reflect the full potential of future investments from several companies that Marcos and other officials met while he was in New York.

Some companies had expressed interest in considering new or further investments in the country, but their plans have yet to be finalized, it said.

The President met with business leaders from various US companies, and they all committed to be a part of the country's development and economic growth.

“Our discussion with the US business community affirms the optimism with which international investors view the Philippines today,” Marcos said.

He said his keynote address at the New York Stock Exchange and at the Philippine Economic Briefing drew institutional investors, senior corporate executives, fund managers, and entrepreneurs.

“At these meetings, I shared with them our vision for the future and how important it was to address the key challenges that continue to constrain the development of our economy. I also informed them about how we intend to deal with some of the fundamental problems in our food, energy, and broader economic security,” Marcos said.

“I also emphasized the importance of peace and stability in the region, and the important role of great powers like the United States, so that developing countries like the Philippines can have the space to achieve growth potentials,” he said.

The President said he and his delegation also hosted four roundtable discussions that dealt with key economic sectors like IT-BPM, digital infrastructure, global brands, industry and infrastructure.