Marcos Comes Home With P804 Billion in Investment Deals

IMAGE PRESIDENTIAL COMMUNICATIONS OPERATIONS OFFICE

President Ferdinand "Bongbong" Marcos Jr. said his state visits to Indonesia and Singapore yielded P804 billion in investment deals, as he returned to the country late Wednesday.

Marcos said his delegation signed 10 Letters of Intent and 12 Memoranda of Agreement spanning renewable energy, data centers, e-commerce, broadband technology, start-ups, government housing, and agriculture.

The government's economic team also met with Indonesian and Singaporean businessmen to encourage them to invest in the Philippines, he said.

"These investments, if we put it all together, value $14.36 billion or P804.78 billion. This will support our country’s economic recovery efforts and create more jobs for Filipinos here in our country," he said in his arrival speech at the Ninoy Aquino International Airport.

Marcos described his state visits as "fruitful and engaging" as he discussed with his Indonesian and Singaporean counterparts various regional and global issues that affect security in the region.

They also renewed their commitment to uphold peace and stability while pursuing national development, he added.

One of the many agreements signed during his state visits was the Philippines-Indonesia Plan of Action for 2022-2027, which lays out the joint activities that the two countries will pursue in the next five years.

Several agreements on counterterrorism, personal data protection, digital cooperation, water resource management, and investments were also signed in Singapore.

"I reiterate my deepest appreciation to the Governments of Indonesia and Singapore for this opportunity to reaffirm our friendship and explore avenues of cooperation that will benefit all of our countries," Marcos said.

"We look forward to doing the work, the detailed work that is necessary to bring all of these proposals to fruition," he added.

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Marcos also met with the Filipino communities in Indonesia and Singapore, assuring them that the government would take care of them even though they are outside the Philippines.

"I also thank our kababayans in Indonesia and Singapore for their continued support and trust, which will continue to inspire and motivate me to do my best as I steer our country towards development," he said.

Following Indonesia and Singapore, Marcos is expected to fly to the United States later this month to speak at the United Nations General Assembly.

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