National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said the investment pledges that President Ferdinand “Bongbong” Marcos Jr. were able to secure during his foreign trips would benefit Filipinos even beyond his term.
These investment pledges, when realized, would help in creating jobs and improve productivity, Balisacan said in a press briefing in Davos, Switzerland on the sidelines of the World Economic Forum (WEF).
While in Switzerland for the WEF Annual Meeting 2023, Marcos has secured investment commitments from New York-based financial institution Morgan Stanley and Dubai-based logistics firm DP World.
Marcos also met with Glencore chief executive officer Gary Nagle, as the company is interested in expanding its mining and processing operations in the Philippines.
Balisacan said in order for these companies to solidify their investment decisions in the Philippines, they have to see the sustainability, predictability, and the transparency of the country’s investment climate.
“We need to be practical. I mean, these investment decisions, especially putting up factories, for example — these are decisions that are not realized overnight, there are stages of implementation,” he said.
But he added that when these investments materialize, the new factories, roads, highways, and other infrastructure would benefit Filipinos even beyond the term of Marcos which ends in 2028. (PNA)