President Ferdinand “Bongbong” Marcos Jr. has secured over $8 billion worth of investment pledges from his state visit to Indonesia, Press Secretary Rose Beatrix “Trixie” Cruz-Angeles said Tuesday.
A total of $8.484 billion worth of memorandum of understanding (MOUs) and letters of intent (LOI) were signed at the Jakarta Business Roundtable Meeting.
Among them is US$822 million in investments in textiles, garments, renewable energy, satellite gateway, wire global technology, and agrifood.
The President’s trip also yielded $7 billion in infrastructure for unsolicited private-public partnerships such as a C-5 four-level elevated expressway.
A US$662-million trade value for the supply of coal and fertilizer was also signed.
Cruz-Angeles said the government anticipates that these deals will generate at least 7,000 new jobs.
In a media interview in Indonesia, Marcos said business leaders from a wide range of sectors were “very enthusiastic” about doing business in the Philippines.
He said Indonesian business people have not been able to come to the Philippines due to the COVID-19 pandemic.
“So sabi ko nagbago na ‘yan. So come to the Philippines. So they all committed naman to… Many of them are already actually involved in the Philippines. So sabi nila palalakihin nila ‘yung kanilang involvement. Gusto nila mag-expand,” he said. | PND
