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Marcos gets US investment pledges
Solar firm Maxeon is planning a substantial investment of approximately $900 million in the Philippines to expand its solar energy operations.
The potential investment was discussed during a meeting between President Ferdinand Marcos Jr. and Maxeon officials in Washington D.C.
Maxeon CEO Bill Mulligan cited the company's confidence in the Marcos administration and the long-standing relationship with the Philippine government as key factors for the expansion.
This significant investment is expected to create over 3,000 jobs within the next few years.
Maxeon plans to produce its Max 7 product in the country, which are the most advanced solar cells in the world.
The expansion includes increasing the capacity of Maxeon's research and development facility in Cavite, which is projected to generate around 2,000 engineering positions.
Maxeon has been a presence in the Philippines since 2003, with its first factory established in Laguna Technopark in 2004.
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See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
President Ferdinand "Bongbong" Marcos Jr. announced that the Philippines secured $1.3 billion in investment pledges during his official visit to the United States.
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Speaker Ferdinand Martin G. Romualdez lauded President Ferdinand R. Marcos Jr.'s US visit for securing significant investments and job opportunities for Filipinos.
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American semiconductor company Analog Devices, Inc. (ADI) will invest USD200 million in a new research and development (R&D) facility in the Philippines as part of its expansion efforts.
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US firm NuScale Power Corporation is interested in investing in the Philippines and plans to conduct a site study for its small modular reactor (SMR) technology.
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The Trade Union Congress of the Philippines (TUCP) is optimistic that President Ferdinand R. Marcos Jr.'s meeting with US President Joe Biden will lead to the creation of decent jobs with living wages in the country.
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