THE investment pledges from foreign companies during the past 16 months of President Ferdinand Marcos Jr.‘s foreign trips are gradually being actualized.
This was said by the Presidential Communications Office based on the report from the Department of Trade and Industry or DTI.
According to DTI Secretary Alfredo Pascual, this strengthens the Philippines’ position as a prime investment destination for foreign businesses in Asia.
In December 2023, the DTI recorded 72.2 billion dollars in investments across various stages, comprising 148 projects.
Among these, 46 projects worth 14.2 billion dollars have already been implemented.
Some of the projects have already begun its operation, while others have completed the registration process with DTI’s Investment Promotion Agencies, or have started implementation.
These investments cover various sectors, including manufacturing, IT-BPM, renewable energy, infrastructure, transport and logistics, agriculture, and retail.
Among these sectors, manufacturing has the highest share in terms of project count, with 16 projects.
It is followed by IT-BPM with 10 projects and renewable energy with 9 projects.
Japan leads as the top country of origin for investments based on the number of implemented projects, accounting for 21 projects.
Meanwhile, the United States follows with 13 projects.
Foreign investors continue to conduct pre-implementation and planning activities in their respective countries for the remaining 102 projects, with a total investment pledge of 58 billion dollars.
