Atin Ito First Filipino Community Newspaper in Ontario
KUALA LUMPUR, Malaysia—The Philippines has gained around $285-million investment commitments from Malaysian investors in various sectors during President Ferdinand “Bongbong” Marcos Jr.’s state visit here.
President Ferdinand ‘Bongbong’ Marcos Jr. (Ali Vicoy)
Marcos bared this following a meeting with business leaders and companies here on Thursday, July 27.
He said his business meetings have produced “very interesting” results from key sectors such as agriculture, transportation, and technology.
“The investments that we have agreed on so far will inject a total of about $285 million, serving as a robust and affirmative indication of the ongoing trust and keen interest of businesses and investors in the Philippines,” Marcos said as he thanked the businessmen for their trust and confidence in the Philippines.
The President stressed that the investment commitments that the Philippines have received are “good indication that there is a strong interest from Malaysia to invest in the Philippines.”
“The engagement with Malaysian companies and business leaders this morning yielded very interesting and what I believe will provide—have a potential for mutually beneficial outcomes for both Malaysia and the Philippine companies,” he added.
The President pointed out that the investment pledges from Malaysia “continues to indicate a strong interest from Malaysia to the Philippines.”
“The insights from these meetings have once again convinced us that it is the right way, we have embarked upon the correct way, the changes that needed to be made in the Philippines to make it again an ideal investment partner for Malaysian businesses,” Marcos said.
While he thanked Malaysia for its continued interest in the country, he stressed that it is now time to embark on new opportunities for both nations.
“However, it has been at that level for a fairly long time now and I agree, I think that it’s time with the new transformation, this provides many opportunities and that will give us a chance to increase that level of trade that we have been achieving over the past many years,” the Chief Executive said.
He further said that while the government can do much, it still needs partnerships with every sector of government and the private sector, which “plays an enormous part in those development plans that we have.”
“Thank you for your continued interest in the Philippines,” Marcos told the Malaysian business leaders.
“At present, Malaysian investments already provide a valuable contribution to the Philippines and its economic development particularly in terms of the admin’s food security, infrastructure development, and job generation for our Filipinos,” he said.
He also expressed that the Philippines will continue its commitment to “support not only prospective Malaysian investors but most particularly the Malaysian companies who are currently doing business as well in the Philippines already.” — Betheena Unite
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