Marcos confident meeting with US, Japan will not affect China’s investment to PH

Marcos confident meeting with US, Japan will not affect China’s investment to PH
Photo from Bongbong Marcos Facebook page

PRESIDENT Ferdinand “Bongbong” Marcos Jr. expressed confidence that the trilateral meeting between the Philippines, the United States, and Japan will not affect the investment from China.

In an interview with reporters, Marcos said he does not see any connection between China’s proposed investments in the Philippines and his meeting with US President Joe Biden and Japan Prime Minister Kishida Fumio.

“I don’t see how the two are connected. China will continue whatever investments it chooses to make,” Marcos said.

“This is separate from any proposed or potential Chinese investments in the Philippines. How do I see it, how will it affect? I don’t see that it will affect, one way or the other,” he added.

Marcos' meeting with the leaders of the Philippines' two ally countries was riddled with speculations that it is solely anchored on a “new situation” in the Indo-Pacific region, particularly in the West Philippine Sea (South China Sea) where the Philippines is experiencing harassment from China, which is claiming sovereignty in the area.

He, however, maintained that the trilateral summit shows the “continuing evolution” of the relationship between the three countries.

In a joint statement, the United States and Japan have expressed their serious concerns regarding the situation in the South China Sea as well as in the East China Sea, particularly the repeated attempts by the Chinese against Philippine vessels in supplying their troops in the Second Thomas Shoal, locally known as Ayungin Shoal.

“We steadfastly oppose the dangerous and coercive use of Coast Guard and maritime militia vessels in the South China Sea, as well as efforts to disrupt other countries’ offshore resource exploitation,” the leaders of the Philippines, US, and Japan said in a Joint Vision Statement released on Thursday.

“We reiterate serious concern over the PRC’s repeated obstruction of Philippine vessels’ exercise of high seas freedom of navigation and the disruption of supply lines to Second Thomas Shoal, which constitute dangerous and destabilizing conduct,” it further stated.

They all urged China to abide by the 2016 Arbitral ruling that determined that the feature lies within the Philippines’ exclusive economic zone (EEZ).

Marcos maintained that the Philippines will not give up even a square inch of its territory.

The Marcos administration is expecting to secure over US$100 billion in investments from the trilateral meeting over the next five years.

In January, Marcos secured $22.8 billion worth of investment pledges from his three-day state visit to China.

This includes $13.76 billion for renewable energy, $7.32 billion for electric vehicles and mineral processing, and $1.72 billion for agriculture. (TPM/SunStar Philippines)


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