President Ferdinand R. Marcos Jr.'s state visit to China was praised as "very successful" by…
Romualdez praises PBBM’s US visit’s strong investment gains.
President Ferdinand R. Marcos Jr. worked hard during his official tour to the United States, according to Speaker Ferdinand Martin G. Romualdez, and it has paid off with investments that will strengthen the Philippine economy and generate jobs for thousands of Filipinos.
“It is encouraging to note that the President’s mission to the US has scored significant gains,” Romualdez said in a statement. “More importantly, however, these gains will directly benefit thousands of Filipino workers in terms of job creation.”
The Philippines has a lot to offer foreign investors, such as a young and expanding workforce, an advantageous location, and a friendly business environment. We will be able to realize our goal of inclusive growth if President Marcos Jr. continues to bring in more foreign investment, the speaker continued.
On the third day of his official visit to the US, Marcos and his team, which includes Romualdez, attended a number of meetings in Washington, D.C. with numerous top US companies.
President and CEO of Carnival Corporation John Padget informed Marcos during one of these sessions that his group of firms plans to engage approximately 75,000 Filipino sailors over the next three to four years.
In addition to Carnival Cruise Line, Holland American Airlines, and Seaborn, Padget lauded Filipino workers for their friendliness and aptitude for the global labor market.
Marcos also met with representatives of Atento, a BPO company that has chosen to locate its first call center in the Philippines at the Iloilo Business Park in Iloilo City’s Mandurriao neighborhood.
The President expressed his gratitude to Chief Delivery Officer Josh Ashby and Atento President Fili Ledezma Soto and informed them that they had made the right choice because “Filipinos speak and write the best English.”
Atento expects to employ about 554 people in the Philippines in its first year of operation and 665 people in its second year, generating a sizeable investment of PHP21.4 million.
Additionally, Optum, a provider of American healthcare services, met with Marcos and his delegation. In the Philippines, the company plans to invest about PHP800 million in medical business process outsourcing (BPO), creating about 1,500 employees.
The Philippines is a priority for Optum, according to John Prince, president, and chief operating officer. He praised the “strategic partnership that we have had for a very long time.”
In a separate meeting with Philippine officials at the Blair House in Washington, representatives of the pharmaceutical and biotechnology company Moderna had informed Marcos of their plans to establish a vaccine-making facility in the nation.
In order to increase the number of job prospects for health professionals in the nation, Moderna Chief Commercial Officer Arpa Garay and Senior Vice President and General Manager Patrick Bergstedt announced during the conference that they are planning to construct a “Shared Service Facility for Pharmacovigilance”.
Other nations had previously offered shared services to Moderna, according to Bergstedt, but they have decided that the Philippines is the “ideal location” for their third shared service facility worldwide.
One of the first pharmaceutical companies to produce the Covid-19 vaccinations, which were given to the Philippines at the height of the pandemic, was Moderna.
The first results of the President’s efforts during his official visit to the US, Romualdez said, “will boost investor confidence in the Philippines, giving us reason to expect additional investments and more jobs for our people.”
House’s steadfast backing
Romualdez gave the Filipino-American community in Washington, D.C., reassurances that Marcos would always have the House of Representatives backing and that his plan for a better future for all Filipinos will be implemented.
“The House of Representatives will continue working hand in hand with President Marcos to advance his legislative, policies, and initiatives geared toward job creation, a better business climate, and a better life for all Filipinos,” Romualdez declared at a gathering with the Fil-Am community at the Ritz-Carlton Hotel after Marcos’ one-on-one meeting with US President Joe Biden.
This is our way of saying “thank you” to all of our abroad Filipino employees for their essential contributions to the economic development of our nation and for demonstrating to the rest of the world the strong work ethic, talent, and good nature of all Filipinos, the official continued.
Marcos has also voiced his appreciation for the remittances sent home by Filipinos who work abroad because they kept the Philippine economy afloat, especially during the coronavirus pandemic.
Romualdez assured the Fil-Am community that the House is prepared to adopt the appropriate laws to ease the entry of commerce and investments from the US brought on by Marcos’ official visit and to make sure that they all work in the Filipino people’s favor.
This follows the productive meeting between Biden and Marcos, during which the latter declared his intention to dispatch a presidential trade and investment delegation to the Philippines.
“By passing the appropriate legislation to assist position the Philippines as an excellent location for foreign investments, we have already demonstrated our unwavering commitment to supporting President Marcos’ vision for development. We’ll keep doing that, Romualdez remarked.
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