Marcos Jr. secures $14.36B investment pledges from Indonesia, Singapore trips

Updated Sat, September 10, 2022 at 6:20 AM Published Wed, September 7, 2022 at 11:44 PM

President Ferdinand "Bongbong" Marcos Jr. secured Letters of Intent (LOIs) and Memoranda of Understanding (MOUs) worth US$14.36 billion from state visits to Indonesia and Singapore.

These investment pledges are projected to generate over 15,000 jobs for Filipino workers.

Trade Secretary Alfredo Pascual highlighted that the total value of these commitments amounts to PHP804.78 billion.

Camarines Sur 2nd Rep. LRay Villafuerte described the trips as "highly-rewarding," noting they yielded better-than-expected outcomes and deepened ties with both nations.

Villafuerte stated that the trips enabled Marcos to fulfill early commitments from his State of the Nation Address regarding attracting foreign direct investments, creating jobs, and advancing the interests of overseas Filipino workers.

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