Oliver 17 0 0 4 min to read

Investment opportunities in PBBM international travel will help PH past 2028

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The investment commitments that President Ferdinand R. Marcos Jr. achieved during his international travels, according to NEDA Secretary Arsenio Balisacan, will benefit Filipinos long beyond his presidency.

In a news conference held on the sidelines of the World Economic Forum in Davos, Switzerland, Balisacan stated that when these investment commitments are fulfilled, they will contribute to job creation and increased productivity (WEF).

Marcos has obtained investment commitments from the New York-based banking institution Morgan Stanley and the Dubai-based logistics company DP World while he is in Switzerland for the WEF Annual Meeting 2023.

Gary Nagle, the CEO of Glencore, and Marcos also had a meeting because Glencore wants to expand its mining and processing operations in the Philippines.

According to Balisacan, these businesses need to be convinced of the sustainability, predictability, and transparency of the Philippine investment climate before they decide to increase their investments there.

“We must be realistic. I mean, these investment decisions, particularly those involving the construction of factories, for instance, are ones that do not become reality immediately “In a combination of English and Filipino, he spoke.

But he also said that the new factories, roads, highways, and other infrastructures would help Filipinos even after Marcos’s presidency, which ends in 2028.

Alfredo Pascual, secretary of the Department of Trade and Industry (DTI), urged international corporations to investigate investment potential in the Philippines at the WEF’s CEO Dialogue on the Philippines last January 17.

“It is essential that we support the industrial transformation that would support our attempts for economic recovery in order to further draw investments to the Philippines. Science, technology, and innovation (STI) are our primary motivators at DTI. STI will boost production efficiency, strengthen industry ties, and enable the emergence of new products, services, and even industries “says Pascual.

The DTI chief stated during the MSME’s Going Global session that the Philippine government is prioritizing the digitalization of MSMEs to lower operating costs, expand markets, and boost productivity.

“The government must empower MSMEs because when they flourish, they contribute to our nation’s overall economic development,” he continued.

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