The administration of President Ferdinand R. Marcos Jr. has been intensifying its efforts to follow-up on the multi billion-peso investment pledges secured during the recent overseas trips of the Chief Executive and his delegation.
In an interview with state-run RTVM, Department of Trade and Industry (DTI) Secretary Alfredo Pascual said after President Marcos secured these investment pledges, they would ensure that the necessary follow-up is conducted.
“Ang mga nakuha nating investment pledges ay napakarami at hindi tayo nagtatapos doon. Ang gagawin natin, ay pa-follow up natin yan para matuloy. Ang marching order ni Pangulo ay pag ibayuhin ang pagpa-follow up para masigurado yung investment ay maisasagawa nung mga nangako na magpapadala dito o yung mga maglalagay ng investment sa ating bansa,” Pascual said.
Based on the report of the DTI and the Office of the Presidential Assistant on Investment and Economic Affairs, the Marcos administration has secured USD4.349 billion or Php239 billion worth of investment projects, which are now undergoing implementation stage.
Of these investment projects, a total of USD29.712 billion or Php1.7 trillion are in the form of Memoranda of Understanding (MOU) and Letters of Intent (LOI).
On the other hand, a total of USD28.863 billion or Php1.5 trillion worth of investment projects are now in the planning stages.
Government figures also showed that the Marcos administration has secured a total of Php3.48 trillion or approximately USD62.926 billion from the President’s trip to China, Japan, Indonesia, Thailand, Singapore, the United States and Belgium.
Aside from following up these investment pledges, the DTI chief said the national government would also ensure that international investors would be experiencing ease in doing business in the country.
“Ang gagawin natin ay sisiguraduhin natin na yung enabling environment ay maayos yung mga kailangang magawa ng mabilis [tulad ng] pagkuha ng permit, pagkuha ng mga lisensya ay mapabilis. Dahil yang mga ganyan kapag may delay dyan naka turn off yung mga investor natin so kailangan natin yang maayos,” Pascual explained.
“Mas lalo na dun sa time na iniimplemento na yung mga produkto sa construction dapat walang delay ano. Pagpapasok dito ng mga imported equipment kailangang mabilis din na mapapalabas ating pier ng Bureau of Customs,” the DTI chief pointed out.
As of February 9, 2023, the DTI-Board of Investments has approved around Php414.3 billion total investment projects. (PND)