(Published in its print edition on August 17 – 23, 2024)
A good vision can be seen today as the foreign investments which are pegged now at $19 billion from those accumulated during the overseas trips carried by President Ferdinand Marcos Jr. have begun to bear fruit in his trips to different countries.
Based on the report of the Department of Trade and Industry (DTI), this is a big help, and the fund is said to be held by investment promotion agencies (IPAs) in the country.
Trade Secretary Federico Pascual responded positively to the media’s questions because the total number of projects has reached 65, 12 of which have already started, at least 21 have already been registered with the Board of Investments (BOI) and the Philippine Economic Zone Authority (PEZA) and 32 are in the process of being registered with the DTI.
In addition to this data, the value of investments in the country is said to be higher than what was reported by the DTI which was $14 billion last year.
The 12 projects that have been started are said to cost $327 million, while $1.6 billion is the value of those approved by the BOI and PEZA and $17 billion is already being registered in IPAs.
This month of June, there are 231 projects planned, including those that will be under public-private partnerships and they have a total cost of $61 billion.
A tribute to the beacon of hope for the country’s development looms.#
