MANILA – President Ferdinand R. Marcos Jr.’s first six months in office saw pledges of billions of dollars in investments from his foreign travels, a clear sign that the country’s economy is on the right track.
In a radio interview on Saturday, Senator Francis Tolentino said the diplomatic relations policy of the administration managed to convince foreign investors to do business in the country.
As reported by the Department of Trade and Industry, the President managed to net at least USD23.6 billion from his visits to Indonesia, Singapore, the United States, Cambodia and Thailand.
The President’s recent visit to Brussels, Belgium also secured PHP9.8 billion in investment pledges.
“Maganda ang takbo ng ating ekonomiya lalo na sa sektor ng agrikultura. Ang investment pledges na nakuha ng ating Pangulo ay bunga din ng maayos na polisiya sa ugnayang diplomatiko (Our economy is doing well, specially the agriculture sector. The investment pledges secured by the President were the result of a good diplomatic policy),” Tolentino said.
The report likewise showed that the Board of Investments and the Philippine Economic Zone Authority have a combined approved investment of PHP402 billion, which could generate around 54,217 jobs for Filipinos.
Tolentino expects 2023 to be an even more prosperous year for the Philippines.
Meanwhile, the 197-page report regarding the alleged fraudulent laptop purchase of the Procurement Service-Department of Budget and Management for the Department of Education will be released in January, according to Tolentino who chairs the Blue Ribbon Committee. (PNA)