According to data released on Thursday by the Philippine Statistics Authority (PSA), registered investments in…
Investment projects worth P239 billion are presently in the execution stage.
The Department of Trade and Industry (DTI) announced on Sunday that investment projects during the Marcos administration valued at USD4.349 billion (about PHP239 billion) are currently in the execution stage.
President Ferdinand R. Marcos Jr. allegedly gave him instructions to make sure the investment commitments are carried through, according to DTI Secretary Alfredo Pascual.
“The President’s marching order is to intensify follow-up to ensure that the investment will be made by those who promised to send them here or by those who will invest in our country,” Pascual said in a press release. “The investment is to be made by those who promised to send them here or by those who will invest in our country.”
A total of USD29.712 billion (or PHP1.7 trillion) of these investment projects are in the form of Memoranda of Understanding (MOU) and Letters of Intent (LOI).
Investment projects worth a combined USD28.863 billion or PHP1.5 trillion are now in the planning phases.
Marcos previously declared that his visits to China, Japan, Indonesia, Thailand, Singapore, the United States, and Belgium had netted his administration almost USD62.926 billion, or PHP3.48 trillion.
The Marcos government is intensifying its efforts to make it simpler to start or renew enterprises in the Philippines, Pascual further emphasized.
“Natuhin sisiguraduhin na ‘yung enabling environment ay maayos, ‘yung mga kailangang magawa ng mabilis [tulad ng] pagkuha ng permit, pagkuha ng mga lisensya ay mapabilis. Because of the delay, the investors in our company were turned off, and as a result, we were able to reach our goal. (We will ensure that the enabling environment is in place; tasks that must be completed fast, such as getting licenses and permits, will be sped up.) We need to solve it because delays like that cause our investors to lose interest,” he stated.
“Dapat walang delay ano, mas lalo na dun sa time na iniimplemento na ‘yung mga producto sa building. There shouldn’t be any delays when importing equipment; in particular, when implementing construction materials, the process of the Bureau of Customs should be as quick as possible. The Bureau of Customs must also swiftly release imported equipment from our pier, he continued.
The DTI-Board of Investments (BOI) has authorized investment projects totaling PHP414.3 billion as of February 9.
Prior to this, Marcos praised the DTI’s decision to grant PHP414 billion in the first 40 days of 2023 and expressed his belief that it is “just a matter of time” before regular Filipinos begin to experience the benefits of economic growth.
This sum represents more than 40% of the year’s investment goal of PHP1 trillion.
The BOI’s annual investment approval target was increased from PHP1 trillion to PHP1.5 trillion by its chairman, Pascual.
In an effort to draw in more foreign investment, Marcos issued an executive order on Thursday creating a “green lane” for strategic investments in government facilities.***
We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️Give a Tip. If you would like to make a small donation to support us, please give a tip thru PayPal at https://paypal.me/SocialBoostVA😊❤️
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, by using the GCash website or GCash mobile application.
2.) Be one of our SPONSOR. We can published your promotions, PR stories/news articles with contact details as an additional exposure of your company products and services.
3.) 👍 Give this news article a Thumbs Up, Leave a Comment (at Least Five Words), and Share!
Cebuano English Filipino