PBBM back in PHL, touts P14.5 billion worth of investment commitments secured during Japan trip

(Eagle News)–President Bongbong Marcos arrived in the country from Japan on Monday night, bringing with him what the Palace said was a substantial amount of investment pledges and security and cooperation guarantees.

The President and his delegation arrived from attending the ASEAN-Japan Commemorative Summit at 10:38 p.m.

According to the chief executive, his visit generated nine new letters of intent and memoranda of understanding valued at P14.5 billion in investment and worth over 15750 additional jobs for Filipino workers.

“I’m also pleased to update that the letters of intent and MOUs signed in February 2023 and together with those signed during this visit total now P776.1 billion or approximately US$14 billion in pledges from Japanese investors,” he said.

He said, overall, the “significant investment” is expected to create around 40200 jobs.

The Palace said also concluded during the President’s trip were two Memoranda of Cooperation, one between the Department of Environment and Natural Resources and the Ministry of the Environment of Japan, and another between the Philippine Coast Guard and its counterpart in Japan.

According to the President, during his visit, he also discussed with other leaders the future of ASEAN-Japan relations and emphasized the need for ASEAN to play an active role in maintaining peace, stability and security in the region.

He said a free and open Indo-Pacific region was also advocated, guided by the fundamental principles enshrined in the United Nations charter and the Treaty of Amity and Cooperation in Southeast Asia.

During the Asia Zero Emissions Community Leaders’ Meeting, he said he also highlighted the Philippines’ experience in promoting clean energy products, which included the first wind farms in Southeast Asia built when he was governor of Ilocos Norte in 2003.

“And I invited AZEC partners including Japan to invest in the Philippine renewable energy industry to achieve not only the intention of the AZEC but also the overall goal of the Paris Agreement,” he said.