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PH gets $285-M investment pledges during Marcos Jr's state visit to Malaysia

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Job Manahan and Pia Gutierrez, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="President Ferdinand Marcos Jr. and Malaysian Prime Minister (PM) Dato’ Seri Anwar Ibrahim. Presidential Communications Office handout. " src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/news/07/27/president-ferdinand-marcos-jr-malaysian-prime-minister-dato-seri-anwar-ibrahim-handout-07272023.jpg" class="fr-fil fr-dib"/><figcaption>President Ferdinand Marcos Jr. and Malaysian Prime Minister (PM) Dato’ Seri Anwar Ibrahim.<em> Presidential Communications Office handout. </em></figcaption></figure></div><p><br/>MANILA — President Ferdinand Marcos, Jr. on Thursday said his state visit to Malaysia yielded around $285 million in investment pledges.</p><p>Marcos said Malaysian business leaders expressed interest in investing in the Philippine food processing industry, multi-service digital platforms, aviation, aviation maintenance support services, logistics, manufacturing, infrastructure, water and wastewater treatment.</p><p>“The investments that we have agreed on so far will inject a total of about $285 million, serving as a robust and affirmative indication of the ongoing trust and keen interest of businesses and investors in the Philippines,” Marcos said, as quoted by the Presidential Communications Office.</p><p>He added that Malaysian businesses have contributed to the country&#x27;s economic development in terms of infrastructure and jobs.</p><p>Malaysia&#x27;s foreign direct investments to the Philippines stood at $108 million, Marcos noted.</p><p>&quot;It has been at that level for a very long time now. I think it is time with the new transformation and this provides many new opportunities and that would give us a chance to increase that level of trade that we have been achieving over the past many years,&quot; he said.</p><p>The President said his administration would make sure that the Philippines would have a conducive business environment for investors, noting that government recently established green lanes, helping critical investments enter the country.<br/><br/>During the Philippine Business Forum in Kuala Lumpur, he also stressed the importance of &quot;balance,&quot; and putting manufacturing at a &quot;more even level with the service industry&quot; in terms of its contribution to the country&#x27;s gross domestic product (GDP).</p><p>Data from the Philippine Statistics Authority showed the services sector accounted for 61.1 percent of the country&#x27;s GDP in the first quarter of the year while manufacturing contributed 17.6 percent.</p><p>This is where capital-intensive investments will come in, Marcos said.</p><p>&quot;What we are looking for are partnerships, commitments on a long-term so... when we make that commitment, that commitment can take us through the many years through our final and ultimate success,&quot; he said</p><p>The President is expected to head back to the Philippines late Thursday after his 3-day state visit.</p><figure class="op-interactive"><iframe frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2736851" width="100%"></iframe></figure><div class="iwantbar"><em>Video from RTVM</em></div><div><br/></div>

President Ferdinand Marcos, Jr. on Thursday said his state visit to Malaysia yielded around $285 million in investment pledges.

PH gets $285-M investment pledges during Marcos Jr's state visit to Malaysia

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PH gets $285-M investment pledges during Marcos Jr's state visit to Malaysia

Job Manahan and Pia Gutierrez,

ABS-CBN News

Published July 27, 2023 02:50 PM PHT

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Updated October 29, 2024 10:46 AM PHT

Read More:

Malaysia state visit

Marcos Jr presidency

Marcos Jr abroad

Malaysia

investment pledges Malaysia

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