PBBM trips net P4.019T in investments, says DTI
Malacañang, citing DTI data, said that 148 projects are in different stages of completion
Photograph courtesy of Bong Bong Marcos FB
Daily TribuneMalacañang, citing DTI data, said that 148 projects are in different stages of completion
Photograph courtesy of Bong Bong Marcos FB
President Ferdinand Marcos Jr. obtained P4.019 trillion ($72.178 billion) in investments during his overseas travels as of 21 December, the Department of Trade and Industry said on Tuesday.
Malacañang, citing DTI data, said that 148 projects from the investments are in different stages of completion. However, it did not specify when Marcos obtained the investments, and whether they were pledges or actual investments.
"These investments — realized and in the pipeline — are mostly in the sectors of manufacturing, IT-BPM, renewable energy, data centers, and telecommunications," DTI said in a statement released by Malacañang.
The amount was broken down as follows: Via the investment promotion agency ($205.53M or P11.4B), business/IPA registered ($983.21M or P54.75B), IPA registration in progress operations ($5.079B or P282.8B), signed memorandum of understanding/letter of intent ($28.529B or P1.588T), and confirmed investment not covered by MoUs/LoIs and those that are still in the planning stage ($27.345B or P1.522T).
According to the DTI, it is also keeping an eye on 20 projects already approved and registered with the Philippine Economic Zone Authority, the Board of Investments and the DTI's IPAs.
The majority of the investments, according to the organization, are in the manufacturing, IT-BPM, data centers, renewable energy and telecommunications sectors.
The commercial deals made during the President's trip to Tokyo, Japan for the ASEAN-Japan Commemorative Summit, according to the DTI, added US$263.08 million, or P14B, to the total value of the projects.
According to the DTI, six MoU/LoI of US$178.01 million and three signed agreements with a clear financial project value of US$85.07 million were recorded.
Additionally, the President's attendance at the Leaders Meeting of the Asia-Pacific Economic Cooperation in San Francisco, California, was included in the DTI monitoring.
This contributed US$672.3 million, or P37.2 billion, to the overall value of the projects and six investments to each project.