Marcos secures P4 trillion consolidated, processed investments from foreign trips

(From DTI's Facebook)
(From DTI's Facebook)

THE Department of Trade and Industry (DTI) has reported P4.019 trillion or US$72.178 billion worth of investments in various investment stages as a result of President Ferdinand Marcos Jr.’s foreign visits.

It said the P4 trillion investment value includes 148 projects, according to DTI’s December 21, 2023 monitoring of consolidated and processed investments.

The investments were described as follows:

* Business, investment promotion agency (IPA) registered with operations (US$205.53 million or P11.4 billion)

* Business/IPA registered (US$983.21 million or P54.75 billion)

* IPA registration in progress operations (US$5.079 billion or P282.8 billion)

* Signed agreement with clear financial project value (US$9.771 billion or P544.152 billion)

* Signed memorandum of understanding/letter of intent (US$28.529 billion or P1.588 trillion)

* Confirmed investment not covered by MOUs/LOIs and still in the planning stage (US$27.345 billion or P1.522 trillion)

The DTI said it is also monitoring 20 projects that have been greenlighted and registered with the IPAs of the DTI, Board of Investments (BOI) and the Philippine Economic Zone Authority (Peza).

These investments, realized and in the pipeline, are mostly in the sectors of manufacturing, IT-BPM, renewable energy, data centers and telecommunications.

The DTI added that the business engagements during Marcos’ visit to Japan for the Asean-Japan Commemorative Summit were added in the monitoring, adding US$263.08 million or P14 billion to the total value and nine investments to the total number of projects.

There were also three signed agreements with clear financial project value worth US$85.07 million, and six MOU/LOI valued at US$178.01 million.

In DTI’s December 14 update, it said the presidential visit to the United States for the Asia-Pacific Economic Cooperation (APEC) Leaders’ Meeting in San Francisco was added in its monitoring, adding US$672.3 million (or 37.2 billion) to the total value and six to the total project.

These include US$400 million (P2.2 billion) investment in telecommunications; US$2 million (P110 million) for artificial intelligence (AI); US$250 million (P13 billion), manufacturing; US$20 million (P1.1 billion), health sciences/pharma manufacturing/health services; US$300,000 (P16 million), energy; and an undisclosed amount for another investment in health sciences/pharma manufacturing/health services.

Those projects are composed of signed agreements with clear financial value and MOU/LOI. PR

Trending

No stories found.

Just in

No stories found.

Branded Content

No stories found.
SunStar Publishing Inc.
www.sunstar.com.ph