PH on right path to economic recovery — Speaker
Speaker Martin Romualdez on Sunday said the administration is on the right path toward helping the country recover from the adverse impacts of the global pandemic with at least $14.2 billion in foreign direct investment projects implemented since July 2022.
“The President’s efforts to attract foreign direct investments (FDIs) are yielding results. We are making steady progress, and the House of Representatives fully supports his initiatives,” he said.
Romualdez cited data from the Board of Investments of the Department of Trade and Industry.
“Executing $14.2 billion in FDIs from the projected total of $72.2billion is significant, and there are many more projects in the pipeline. This demonstrates the government’s commitment and hard work in improving the lives of Filipinos,” he said.
Ongoing projects stemming from the President’s international visits constituted 20 percent of the total pledges for the administration.
Earlier, the Department of Foreign Affairs on Friday said the foreign trips of President Marcos are part of the administration’s development goals.
“The President’s international engagement is, of course, in support of his development agenda, security, and economy that will redound to the benefits of our countrymen,” DFA Assistant Secretary Maria Algabre said.
The President will leave for Germany and the Czech Republic today for a five-day visit.
He is fresh from a back-to-back trip to Australia – for a state visit in Canberra from Feb. 28 to 29 and for the ASEAN-Australia Special Summit from March 4 to 6 in Melbourne and Sydney.
This year, Mr. Marcos also went to Brunei to attend the wedding of Prince Abdul Mateen and to Vietnam for a state visit.