Home Government Marcos and Biden to Discuss Strengthening PH-US Relations in Washington MeetingPresident Marcos...

Marcos and Biden to Discuss Strengthening PH-US Relations in Washington MeetingPresident Marcos Invites Foreign Investors to Partake in the Philippines’ Economic Growth

WASHINGTON, D.C. - Philippine President Ferdinand R. Marcos Jr. is set to meet United States President Joe Biden next month in Washington, D.C., as part of efforts to enhance the bilateral relations between the two countries, the Malacañang announced Tuesday.

According to Philippines News Agency, the meeting between Marcos and Biden will occur alongside a trilateral summit involving Japanese Prime Minister Fumio Kishida scheduled for April 11. The discussions aim to acknowledge and build upon the significant advancements in Philippines-United States relations, emphasizing a mutual commitment to further strengthen the alliance.

This forthcoming visit by President Marcos to the U.S. follows recent diplomatic engagements, including visits to the Philippines by U.S. Secretary of State Anthony Blinken and the first U.S. Presidential Trade and Investment Mission led by Commerce Secretary Gina Raimondo.

Earlier on Tuesday, the White House disclosed its plans to host the first-ever U.S. trilateral summit with the Philippines and Japan, underscoring the strategic importance of the three nations' defense, security, and economic ties. The DFA has expressed that this summit represents a crucial moment to reaffirm the strong alliances and strategic partnerships between the Philippines and the United States, as well as between the Philippines and Japan.

Furthermore, the DFA indicated that the trilateral meeting is seen as a natural extension of the Philippines' historical and robust connections with the U.S. and Japan, aiming to boost coordination and cooperation in areas of common interest.

President Marcos, alongside President Biden and Prime Minister Kishida, is expected to discuss a broad range of issues during the summit. Topics on the agenda include maritime cooperation, infrastructure development, economic resilience, trade, and investments, along with other significant areas such as clean energy, climate action, cybersecurity, and the digital economy.

MANILA — President Ferdinand R. Marcos Jr. has extended an invitation to global business leaders to invest in the Philippines, highlighting the country's recent economic achievements and future prospects. Speaking at the World Economic Forum (WEF) Country Roundtable in Manila, Marcos emphasized the nation's successful economic performance in 2023, which outpaced its ASEAN counterparts and China.

According to Philippines News Agency, the Philippine economy has shown resilient growth, supported by significant investments in durable equipment and public construction. He detailed the administration's commitment to 185 flagship infrastructure projects, amounting to over PHP9 trillion, which focuses on sectors crucial for sustainable development and enhanced connectivity. Marcos pointed out that more than half of these projects are either in progress or approved for implementation, with around a quarter expected to be funded through public-private partnerships (PPP).

In his address, Marcos also highlighted several key regulatory reforms aimed at fostering a stable and conducive environment for PPP investments. These reforms include amendments to the Build-Operate-Transfer Law, the enactment of the Public-Private Partnership Code, and other economic liberalization measures. He encouraged the WEF participants to consider the Philippines as a viable destination for long-term investment and partnership.

The call to invest in the Philippines was supported by WEF President Børge Brende, who reflected on the positive international response to the Philippines' economic direction and policy reforms. Brende suggested that with continued focus on infrastructure and renewable energy investments, the Philippines could significantly increase its economic size in the coming decade.

Further endorsing the President's efforts, Dr. Cecilio Pedro, president of the Federation of Filipino-Chinese Chambers of Commerce and Industry, Inc., praised Marcos' dedication to promoting the Philippines abroad, noting the potential impact of increased foreign investment on job creation and national progress.