PBBM’s Foreign Trips Resulted In ₱4 Trillion Investments --- DTI

President Ferdinand R. Marcos, Jr.’s foreign trips have resulted in various investments worth US$72.178 billion or equivalent to P4.019 trillion (based on the Dec. 22 BSP rate), according to the Department of Trade and Industry (DTI).

These investments, currently in various stages, consist of 148 projects, based on the department’s December 21, 2023, monitoring of consolidated and processed investments. I Photo: Bongbong Marcos Facebook

These investments, currently in various stages, consist of 148 projects, based on the department’s December 21, 2023, monitoring of consolidated and processed investments.

The DTI describes these investments as business operations (US$205.53M or P11.4B), investment promotion agency (IPA) registered with operations (US$983.21M or P54.75B), IPA registration in progress operations (US$5.079B or P282.8B), signed agreements with clear financial project value (US$9.771B or P544.152B), signed memoranda of understanding/letters of intent (MOU/LOI) (US$28.529B or P1.588T), and confirmed investments not covered by MOUs/LOIs and still in the planning stage (US$27.345B or P1.522T).

The DTI is also monitoring 20 projects that have been greenlighted and registered with the IPAs of the DTI, Board of Investments (BOI), and the Philippine Economic Zone Authority (PEZA).

The department states that these investments, realized and in the pipeline, are mostly in the sectors of manufacturing, IT-BPM, renewable energy, data centers, and telecommunications.

It notes that business engagements during the President’s visit to Japan for the ASEAN-Japan Commemorative Summit were added to the monitoring, adding US$263.08 million or P14B to the total value and nine investments to the total number of projects.

There were three signed agreements with clear financial project value worth US$85.07 million and six MOU/LOI valued at US$178.01 million, the DTI emphasizes.

It notes that the presidential visit to the United States for the Asia-Pacific Economic Cooperation (APEC) Leaders’ Meeting in San Francisco was added to its monitoring, adding US$672.3 million (or 37.2 billion) to the total value and six to the total projects.

These include a US$400 million (PhP2.2 billion) investment in telecommunications, US$2 million (PhP110 million) in artificial intelligence (AI), US$250 million (PhP13 billion) in manufacturing, US$20 million (PhP1.1 billion) in health sciences/pharma manufacturing/health services, US$300,000 (PhP16 million) in energy, and an undisclosed amount for another investment in health sciences/pharma manufacturing/health services.

These projects are composed of signed agreements with clear financial value and MOU/LOI, the DTI concludes.

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