Marcos Jr.’s Overseas Visits Yield $14 Billion in Investment Projects

The Philippine government, through the Department of Trade and Industry (DTI), has announced the realization of 46 projects worth $14.2 billion in foreign investments as a result of President Ferdinand “Bongbong” Marcos Jr.’s international trips over the last 16 months. This figure represents 20% of the total $72.2 billion in investments pledged across 148 projects recorded as of December 2023. These projects, now either operational or in the implementation phase, span various sectors including manufacturing, IT-BPM, renewable energy, and more.

The Presidential Communications Office (PCO) highlighted the significance of these ventures in establishing the Philippines as a prime investment hub in Asia. The success is attributed to the strategic presidential visits aimed at attracting foreign investment by showcasing the Philippines’ open and welcoming stance towards international businesses.

Manufacturing leads the investment sectors, with 16 projects making up 35% of the actualized investments, followed by the IT-BPM and renewable energy sectors. Japan and the United States emerged as the top sources of these investments, demonstrating the global confidence in the Philippine market.

Despite the positive progress, the PCO acknowledges that some projects, especially those in offshore wind and major infrastructure, require extended implementation periods. However, the rapid actualization of projects in the IT-BPM and light manufacturing sectors is already contributing to employment generation and economic growth in the country.

DTI Secretary Alfredo Pascual emphasized the role of presidential visits in enhancing the Philippines’ investment landscape, aiming to capitalize on these opportunities to further cement the country’s status as a preferred investment destination.

With President Marcos Jr.’s active international engagement, the administration is committed to leveraging these diplomatic efforts to drive economic development and job creation, setting a robust foundation for the Philippines’ future growth.