THE Philippines could get close to $4 billion worth of investments in various sectors following the working visit of President Ferdinand “Bongbong” Marcos in the United States (US) last week, the Malacañang said on Wednesday, September 28, 2022.

Based on the investment data released by Malacañang, business agreements and commitments secured during the President’s trip to the US have an estimated investment value of $3.9 billion, with a potential employment generation of 112,285 jobs.

This includes investments in Information Technology and Business Process Management (IT-BPM), data centers, and manufacturing.

“However, the estimates do not reflect the full potential of future investments from several companies that the President and the trade department met while in New York,” Malacañang said in a statement on Thursday, September 29.

“Some companies had expressed interest in considering new or further investments in the country, but their plans have yet to be firmed up,” it added.

Marcos went on a one-week trip to New York for the 77th session of the United Nations General Assembly.

During his stay there, he met with other nation leaders, as well as business and economic leaders whom he said expressed intention to invest in the country.

Marcos told the business leaders that the best time to invest in the Philippines is “now” amid its way to a “strong recovery” from the Covid-19 pandemic.

At the grand opening of the New Terminal Building of the Clark International Airport in Clark Freeport in Pampanga on Wednesday, September 28, Marcos reiterated that the Philippines is open for business, and the government is ready to go the extra mile to nurture strong partnerships with potential investors.

“And this facility is essentially a very strong signal that yes, indeed, we are open for business,” he said.

Marcos touted the Philippines as a good investment destination being probably the most vibrant economy in Southeast Asia.

He said his administration understands potential investors’ requirements and needs, and it will do everything to build strong partnerships. (SunStar Philippines)