Malacañang Palace on Sunday announced that President Ferdinand Marcos Jr. brought home $2.5 billion (P154 billion) worth of investment pledges in the areas of mining, critical minerals, energy, information technology and business process management (IT-BPM), and the digital economy, following his official visit to Vancouver, Canada.

The President, who arrived Sunday afternoon at Villamor Air Base, Pasay City, reported that discussions with Canadian companies went well, noting that conversations with IT-BPM firms also explored establishing artificial intelligence hubs and learning centers to help develop AI skills for the global workforce.

Among the companies he met were B2Gold Corporation, OceanaGold Corporation, TELUS Corporation, and NQX to discuss their investment plans in the Philippines.

“All these business engagements in the sectors of mining, critical minerals, energy, services, and IT-BPM resulted in a combined $2.5 billion in investment from Canadian partners,” President Marcos announced.

The President said the investment commitments reinforce the need to conclude a free trade agreement between the Philippines and Canada.

“Thus, it is already timely that we presently are negotiating a free trade agreement with Canada, which we hope will further strengthen our economic cooperation once it enters into force,” President Marcos said.

Canada enters LEC

The President also welcomed Canada’s participation in the Luzon Economic Corridor (LEC), saying Ottawa pledged an initial two million Canadian dollars to support infrastructure, supply chain, and clean energy projects.

The LEC is a trilateral infrastructure and investment initiative launched by the Philippines, the United States, and Japan to establish a world-class economic hub across the island of Luzon.

It aims to connect Subic Bay, Clark, Metro Manila, and Batangas through high-impact development projects to drive growth, create jobs, and secure regional supply chains. Moreover, President Marcos said he and Canadian Prime Minister Mark Joseph Carney also witnessed the signing of a Joint Declaration of Intent on Energy and Natural Resources Cooperation, which seeks to strengthen collaboration on energy security, sustainable economic growth, and resilient supply chains.

The President added that the two countries agreed to deepen defense and security cooperation through existing agreements, including the Status of Visiting Forces Agreement and the Mutual Logistics Support Arrangement.

The President earlier reported that he and Carney agreed to elevate bilateral ties, describing the move as both a recognition of the longstanding relationship between the two countries and a roadmap for deeper cooperation.

“Ushering in a new chapter in our ties with Canada, Prime Minister Carney and I announced the elevation of Philippine-Canada relations to a strategic partnership,” President Marcos said.

“This move, while reflective of the deep and strong bilateral relations that we have developed with Canada, also catalyzes our next steps towards the new phase of our relations in ensuring the sustained and dynamic growth of our bilateral ties,” the President added.

Marcos noted that nearly one million Filipinos now live in Canada and said the visit sought to strengthen cooperation in security, commerce, and other priority areas.

The President said, “I have tasked the Secretary of Foreign Affairs, Maria Teresa Lazaro, to work together with Canadian Foreign Minister Anita Anand to create a plan of action focusing on joint initiatives that will help both our countries adapt to shifting global realities, address shared challenges, and build capacities for future-ready partnerships.”

Shared regional priorities

President Marcos said both countries reaffirmed the strategic importance of the Indo-Pacific region and agreed to work together on shared regional priorities.

The Chief Executive also thanked Canada for its continued support for the rules-based international order in the South China Sea.

“I also thank Prime Minister Carney for Canada’s vocal and consistent support in upholding the rule of law in the South China Sea, particularly based on UNCLOS and the 2016 Arbitral Award,” Marcos said.

“I convey the hope that as we celebrate the 10th anniversary of the Arbitral Award, Canada will continue to be one of the leading voices in upholding the award as an unassailable part of the corpus of international law,” the President added.