A Trade official on Tuesday said that President Marcos’ foreign trips have yielded P427 billion worth of foreign investments.
“We are happy that we were able to tell President Marcos that his presidential visits have been resulting in actual investment registrations and approvals with our investment promotion agencies,” Trade Undersecretary Ceferino Rodolfo said in a press briefing in Malacañang.
“We are pleased to report that from January to September of this year, BOI investment approvals have reached P734 billion. This is a 102 percent increase compared to January to September 2022, when we only reached P362 billion,” he added.
Rodolfo said the foreign trips have spurred the spike in foreign investments in the country.
“If we would look at it, the presidential visits have a direct impact on the foreign investments portion of the approvals of the Board of Investments,” he said.
Moreover, Rodolfo said the majority of investments were for renewable energy projects.