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PH on the right path for long-term development: PBBM

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According to President Ferdinand R. Marcos Jr., the Philippines is on the right track to accomplishing its aim of maintaining its growth momentum.

The PHP708 billion in investment pledges obtained during Marcos’ five-day working tour to Japan from February 8–12, according to a video he posted on his official Facebook page on Saturday, is proof that his government is “on the right route.”

“Alam natin, negosyante ito. It is not a secret among businesspeople, especially if they have the potential to succeed and are planning to run a successful enterprise in the Philippines. Simple appeals would not be enough to satisfy them. They must recognize the Philippines’ potential for successful corporate operations, according to Marcos.

“With the signing of LOIs, it demonstrates that we are on the right track in managing our economy, that we are moving in the right path,” he continued. “Sa kanilang pagpirma ng mga LOI (letters of intent), pinapakita nila na tama naman ang pagpapatakbo ng ating ekonomiya, tama naman ang tinutunguhan

The governments of the Philippines and Japan, as well as various business organizations from both countries, have signed about 35 letters of intent and agreements to strengthen their collaboration in a variety of fields, including manufacturing, infrastructure development, energy, transportation, healthcare, renewable energy, and business expansion.

It’s anticipated that the investment commitments from Japanese business leaders will result in the creation of 24,000 jobs for Filipinos.

Marcos expressed confidence that the most recent development would strengthen the Philippine economy.

The “New Philippines”

He claimed that the purpose of his travels abroad is to help his administration realize its vision for a “new Philippines.”

“Our abroad excursions, notably to Japan to encourage further investments, are a key component of our roadmap leading to a new Philippines,” Marcos added. The phrase “Ang mga ugnayan at pagsasamahang kinakailangan sa ating mga mithiin ay lalo pang aarugain” is used. Iyan ang bagong Pilipinas (We will foster our connections and alliances needed to accomplish our aims) lang ang pagbangon, kung hindi ang kaunlaran. A new Philippines demonstrates both our development and rehabilitation.

According to a report from the Department of Commerce and Industry, Malacaang declared on Friday that Marcos’ international travels have so far resulted in 116 investment projects worth a combined PHP3.48 trillion (USD62.926 billion).

In order to strengthen the Filipino economy, Marcos claimed his administration is welcoming and receptive to “new and modern” approaches.

In addition, he reaffirmed his commitment to fostering PPPs while in office because of their critical role in reviving the economy.

“Natin tulong ng bawat sektor ng lipunan. We need the assistance of every sector in society, so that’s what the private sector is for. The private sector is the largest component of society,” remarked Marcos.

“As long as the public and private sectors work together harmoniously, everything about this is possible. All of our objectives can only be met if there is a positive relationship between the public and private sectors, or public-private partnership, or PPP. We’ll keep bolstering public-private partnerships (PPPs),” he continued.

“Manufacturing” nation

According to Marcos, his administration also aims to attract greater investment to the manufacturing sector.

This is because, as he remarked, the Philippines is prepared to become a “nation that manufactures.”

“Ating makikuha diyan maraming trabaho. At the point of manufacturing, you are capable of exporting. We can create more jobs there because of our negotiation efforts in Iba’t Ibang Bansa, which is malaking bagay. We can also export if the nation’s manufacturing operations are successful. We may now expand our activities to other nations, which is tremendous assistance,” added Marcos.

If the Philippines is the country that exports, then we cannot possibly import.

If the Philippines can export, we won’t need to import anymore, according to the saying, “Yung perang yun ay maiiwan dito sa Pilipinas para naman matulungan ulit ang ekonomiya.” We can use the money we spend on imports to boost our economy, he continued.

Given the “aggressive but strategic” advertising campaigns being performed globally with none other than Marcos as the “country’s top salesman,” the Board of Investments (BOI) has remained optimistic about reaching its PHP1-trillion investment approvals objective for 2023.

The manufacturing sector is being made “innovative and sustainable,” according to Lanie Dormiendo, director of the BOI’s International Investments Promotion Service, in an effort to draw in more foreign investors and establish the Philippines as a “top investment destination.”

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