Home Economy $14.2 Billion in Foreign Investment Pledges Begin to Materialize in the Philippines

$14.2 Billion in Foreign Investment Pledges Begin to Materialize in the Philippines

MANILA, Philippines — Investment commitments totaling USD 14.2 billion, secured by President Ferdinand R. Marcos Jr. through international engagements over the past 16 months, have started to materialize, the Department of Trade and Industry (DTI) announced on Sunday. These investments, derived from 46 projects, are now either operational or have been formally registered with the nation's investment promotion agencies.

According to Philippines News Agency, this influx of foreign investments spans various sectors, with 16 projects in manufacturing, 10 in information technology and business process management (ITBPM), and nine focusing on renewable energy. Japan and the United States are the primary contributors, with 21 and 13 projects respectively.

The DTI highlighted ongoing pre-implementation and planning activities for an additional 102 projects. These endeavors, representing USD 58 billion in investment pledges, are currently in various stages of development in their home countries.

A pivotal factor in accelerating the realization of these investment pledges has been the establishment of the One-Stop Action Center for Strategic Investments (OSAC-SI) by the DTI. The OSAC-SI facilitates and expedites the processing of significant investments, offering endorsements for "green lane" treatment, which ensures swift handling by both national and local government entities in terms of business permitting, licensing, and the acquisition of necessary documents.

To date, the DTI reported that the OSAC-SI has issued green lane certifications to 41 projects, with 20 of these commitments made during President Marcos's foreign trips. This initiative underscores the Philippine government's commitment to transforming investment pledges into tangible projects, reinforcing the country's position as a preferred destination for international investors.