Pascual steps down with USD76.6B in pipeline investments

Outgoing Department of Trade and Industry (DTI) Secretary Alfredo Pascual is stepping down with USD76.6 billion worth of pipeline investments as his legacy after two years in office.

Pascual attributes these investments to the foreign investment missions and follow-through activities conducted by DTI during President Ferdinand R. Marcos Jr.'s presidential trips, including a recent visit to Japan where Yokohama Tire Philippines Inc. invested P3.5 billion in the Clark Freeport Zone.

As of June 2024, there were 20 projects worth USD1.26 billion that have already been implemented, creating over 200,000 jobs and paving the way for further economic growth under President Marcos's administration.

Pascual expressed hope for the continuation of pending free trade agreements with the European Union and United Arab Emirates, as well as the review of Philippine-Japan Economic Partnership Agreement by his successor.

Local and foreign business groups praised Pascual's work in promoting MSMEs and attracting investments, with the Philippine Chamber of Commerce and Industry wishing the next DTI chief success in building on current programs.