NextGen Day

President Ferdinand R. Marcos Jr. just returned from a series of international tours, and the Board of Investments (BOI) and Philippine Economic Zone Authority (PEZA) have committed to follow through on the investment commitments he collected.

Aleem Siddiqui Guiapal, the deputy director general of PEZA, announced at the Saturday News Forum held at Dapo Restaurant in Quezon City that the investment promotion agency (IPA) had sent a delegation to Washington, DC, in the United States from January 8 to 13, which is a follow-up visit to Marcos’ trip last year.

He claimed that when they visited with corporate leaders from several industries, including agribusiness, semiconductors and electronics, information technology, and business process outsourcing, the investors’ promises were renewed.

Although Guiapal declined to provide further specifics, the multinational food corporation Cargill is considering expanding its business in the Philippines.

We’ve got a lot going on in January. Many potential investors are in town, he added, adding that some of them are from nations where Marcos had made state visits.

Marcos’ international travels, according to BOI managing director and undersecretary of the Department of Trade and Industry Ceferino Rodolfo, were instrumental in securing promises from foreign businesses to invest in the Philippines.

According to Rodolfo, a number of businesses that made investment pledges had previous interactions with the IPAs.

He cited negotiations between BOI and the mineral processing firm Glencore at the 5th Joint Economic Commission meeting between the Philippines and Switzerland earlier this month.

However, Glencore executives made their firm’s investment commitments at their meeting with the Chief Executive on the eve of Marcos’ attendance at the WEF in Davos, according to Rodolfo.

He said that Glencore, which owns the Philippine Associated Smelting and Refining Corp., may invest up to PHP1 billion to expand the company’s operations in Leyte or in other regions of the nation.

At least nine investment commitments were obtained by Marcos in Davos, including those from Morgan Stanley, Glencore, and DP World, a logistics company based in Dubai, United Arab Emirates.

With the President’s vigorous promotion of the Philippines as an investment destination, the BOI and PEZA, the nation’s top IPAs, also observe an uptick in investment approvals this year.

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

Need to get in touch?

Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. Simple Ways To Say Thanks & Support Us:
1.) GIVE A TIP. Send a small donation thru Paypal
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---