Bongbong Marcos’ foreign trips yield P734B investment pledges in Q3

MANILA, Philippines — The foreign trips of President Ferdinand Marcos Jr. brought in P734 billion worth of investment promises so far, an official of the Department of Trade and Industry (DTI) said Tuesday. “Natutuwa po tayo na ang binanggit sa Pangulo na from January to September of this year, ang investment approvals po ng BOI ay umaabot na sa P734 billion,” DTI’s Board of Investments (BOI) member Ceferino Rodolfo said during a Palace briefing. (We are glad that, as discussed with the President, the investment approvals of the BOI have reached P734 billion from January to September of this year.) Rodolfo explained that 80 percent of foreign investments are processed through their office. READ: Lawmakers weigh in on Marcos’ P1.4 billion travel kitty He also said that the total investment approvals so far is a 102 percent increase from the same period last year. “Kung ico-compare po natin from January to September of 2022, umabot lang po tayo ng P362 billion,” he said. (From January to September of 2022, we just reached P362 billion.) READ: Marcos defends foreign trips: ‘Kailangan natin magpakilala’ When asked how much of the investment pledges since 2022 became concrete projects, Rodolfo said: “Ang track record ho natin sa Board of Investments over the past 10 years is that about 80% of the projects that register, actually continue on to implement their projects – iyong mga nagkakatotoo.” (Our track record at the Board of Investments over the past 10 years is that about 80% of the projects that register actually continue to implement their projects – those that come true.) READ: P4.8-B foreign investments materialized so far from Bongbong Marcos trips — DTI But Rodolfo could not disclose the cost of President Marcos’ foreign trips where he could clinch the investment pledges, noting that such information is not available to his agency. Marcos is again scheduled to leave the country this week for a summit. He is set to fly to Saudi Arabia on Thursday, October 19, to attend the Association of Southeast Asian Nations-Gulf Cooperation Council Summit. kga/abc Read more at: inquirer

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