Marcos says $1.3-B investment pledges secured during US visit

WASHINGTON - The Philippines secured $1.3 billion worth of investment pledges during his official visit to the United States, President Ferdinand "Bongbong" Marcos Jr. said on Thursday (Washington time).

In his speech before leaving for London for the coronation of King Charles III, Marcos said these pledges could generate more than 6,000 jobs for Filipinos.

"I also met with quite a few of US companies — both those looking to further expand their already valuable presence and operations in the Philippines and those looking to invest in our country for the first time," Marcos said.

"They are all committed to be part of this development journey that we have embarked upon. We return to the Philippines with over US$ 1.3 billion in investment pledges that have the potential to create around 6,700 new jobs for Filipinos within the country," he added.

Marcos said more investments would materialize if these pledges would "firm up."

"Nevertheless, the interest is a welcome sign of their trust and confidence in the Philippines as an investment destination," he said.

"Together, we will be working on addressing some of our key economic challenges, particularly food, energy, and health security, digital connectivity, and the cross-cutting issues of climate change and pandemic preparedness."

He also disclosed that he would be leading a ministerial-level study group between the two countries to boost climate-smart agriculture initiatives.

"In addition to existing bilateral policy dialogue platforms and working groups, we agreed to institutionalize a ministerial-level study group to advance cooperation on climate-smart agriculture, which I myself will lead,” Marcos said.

Meanwhile, Marcos also welcomed all the US' efforts to expand collaboration with the Philippine government and universities "to support the continued growth of local talent."

He also expressed gratitude to the Filipino community from the US East Coast for their contributions to the communities in the US as well as those in the Philippines.

"They continue to bring honor to our country in the practice of their chosen professions, they continue to bring a shine to the reputation of [the] Philippines and Filipinos with their philanthropic work, especially during calamities and disasters, that have touched  so many lives," the President said.

Marcos said Manila and Washington are bonded by shared values and commitment to mutual prosperity.

"The future of the United States will hold more promise if the US works closely — hand-in-hand, shoulder-to-shoulder, in lockstep — with the Philippines," Marcos said.

"Our two countries are drawn to each other because we recognize that in order to achieve our common goal of peace and prosperity for our peoples, we need to work with like minded partners," he added. —KBK/RSJ, GMA Integrated News