MANILA– The Philippines is on track towards attaining its purpose of sustaining its development momentum, President Ferdinand R. Marcos Jr. has stated.
In a vlog uploaded on his official Facebook web page on Saturday, Marcos stated the PHP708 billion in funding pledges secured throughout his five-day working go to to Japan from Feb. 8-12 is a sign that his administration is on the “right track.”
“Alam naman natin, mga negosyante ito. Ito ay hindi nadadaan sa mga pakiusap, kundi kung may makita sila na may potential, na magkakaroon sila ng magandang operation dito sa Pilipinas (We all know that they are businessmen. They could not be pleased just by mere appeals. They need to see the Philippines’ potential for good operation [of businesses]), Marcos said.
“Sa kanilang pagpirma ng mga LOI (letters of intent), pinapakita nila na tama naman ang pagpapatakbo ng ating ekonomiya, tama naman ang tinutunguhan natin (With the signing of LOIs, it proves that we’re heading in the right direction in managing our financial system, that we’re on track),” he added.
Around 35 LOIs and agreements have been signed between the governments of the Philippines and Japan, as well as different business companies from both nations, to deepen their partnerships in various sectors such as manufacturing, infrastructure development, energy, transportation, healthcare, renewable energy and business expansion.
The investment pledges from Japanese business leaders are expected to generate around 24,000 jobs for Filipinos.
Marcos expressed optimism that the latest development would make the Philippine economy more robust.
‘New Philippines’
He said his foreign travels are aimed at fulfilling his administration’s desire for a “new Philippines.”
“Itong ginagawa nating pagbibisita sa iba’t ibang bansa gaya ng Japan para manghikayat ng mga funding ay malaking bahagi ng ating roadmap kumbaga tungo sa isang bagong Pilipinas (Our abroad journeys, together with Japan, to encourage extra investments is an enormous a part of our roadmap towards a brand new Philippines),” Marcos said. “Ang mga ugnayan at pagsasamahang kinakailangan sa ating mga mithiin ay lalo pang aarugain. Hindi lang ang pagbangon, kung hindi ang kaunlaran, iyan ang bagong Pilipinas. (We will nurture our connections and partnerships we have to obtain our objectives. A brand new Philippines exhibits not simply our restoration but additionally improvement).”
Malacanang announcedon Friday that Marcos’ foreign trips have so far generated a total of 116 investment projects worth PHP3.48 trillion (USD62.926 billion), based on a report from the Department of Trade and Industry.
Marcos said his administration welcomes and is open to “new and trendy” ways of boosting the Philippine economy.
He also reiterated that he would strengthen the public-private partnership (PPP) under his watch, as he acknowledged its crucial role in revitalizing the economy.
“Kailangan natin ang tulong ng bawat sektor ng lipunan. Isa sa pinakamalaking bahagi ng lipunan ay ang pribadong sektor (We want the assistance of each sector within the society. The greatest a part of the society is the non-public sector),” Marcos said.
“Ang lahat ng ito ay posible lamang basta maganda ang samahan ng public at non-public sector. Ang public-private partnership o PPP ay mas lalo pa nating paiigtingin (All of our objectives can solely be attained, if the private and non-private sector have good relations. We will proceed to strengthen public-private partnership or PPP),” he added.
‘Manufacturing’ country
Marcos said his administration also seeks to woo more investments in the manufacturing industry.
This, as he said the Philippines is ready to become a “manufacturing nation.”
“Maraming trabaho ang ating makikuha diyan. At kapag itong manufacturing ay sumikat ay makakapag-export pa tayo. Malaking bagay iyan dahil kailangang paramihin natin ang ating negosyo sa iba’t ibang bansa (We can generate extra jobs there. And if the manufacturing operations within the nation turn out to be profitable, we are able to additionally export. That’s an enormous assist as a result of we are able to broaden our operations to different international locations),” Marcos said.
“Kung ang Pilipinas ang nage-export ay hindi na natin kailangang mag-import. ‘Yung perang yun ay maiiwan dito sa Pilipinas para naman matulungan ulit ang ekonomiya (If the Philippines can export, weno longer have to import. We can use the cash we’re spending for importation to assist develop our financial system),” he added.
The Board of Investments (BOI) has remained bullish on hitting its PHP1-trillion investment approvals target for 2023, given the “aggressive however strategic” promotion initiatives being conducted globally with no less than Marcos as the “nation’s high salesman.”
Lanie Dormiendo, director for International Investments Promotion Service of the BOI, said the current administration is making the manufacturing sector”revolutionary and sustainable” to entice more foreign investors and make the Philippines as a “prime funding vacation spot.” (PNA)