Photo credit: PCO

President Ferdinand R. Marcos Jr. is set to bring home over USD1.3 billion worth of investment pledges following his recent five-day official visit to the United States. During his engagements with numerous American business groups, the President was able to convince many of them to expand their operations or create new ventures in the Philippines. These investments are expected to create around 6,700 new jobs for Filipinos within the country.

According to President Marcos, these investment pledges are a sign of the trust and confidence that American investors have in doing business in the Philippines. Many see the country as a prime investment destination, and the President believes that together they will work on addressing key economic challenges, particularly food, energy, and health security, digital connectivity, and the cross-cutting issues of climate change and pandemic preparedness.

The President also received praise from the U.S. business community for the talent, ingenuity, and work ethic of Filipinos, which they see as the main driving force for bringing their investments to the country. The discussions with the U.S. business community affirm the optimism that international investors have in the Philippines today.

President Marcos is optimistic that the Philippines can quickly transform itself, with the help of the young workforce. He noted that the average age of the manpower in the country is between 23 and 24. This, combined with the country's efforts to structure the economy for stronger investment and more well-structured value chains in the service and manufacturing sectors, has given the President confidence in the country's economic prospects.