About $4.349 billion (about P239 billion) worth of investment projects under the Marcos administration are now in the implementation stage, according to the The Department of Trade and Industry (DTI).
DTI Secretary Alfredo Pascual said President Ferdinand R. Marcos Jr. directed him to ensure that the investment pledges are followed through.
“The President’s marching order is to intensify follow-up to ensure that the investment will be carried out by those who promised to send here or those who will invest in our country,” Pascual said in a press statement.
Of these investment projects, a total of $29.712 billion or P1.7 trillion are in the form of Memoranda of Understanding (MOU) and Letters of Intent (LOI).
A total of $28.863 billion or P1.5 trillion worth of investment projects are now in the planning stages.
Marcos earlier announced that his administration has secured approximately $62.926 billion or P3.48 trillion from his trips to China, Japan, Indonesia, Thailand, Singapore, the United States, and Belgium.
Pascual likewise assured that the Marcos administration is stepping up on efforts to make it easier to put up or renew businesses in the Philippines.
“We will make sure that the enabling environment is in order, those that need to be done quickly [such as] obtaining permits, obtaining licenses will be expedited. Because of things like that, when there is a delay, our investors turn off, so we need to fix it,” he said.
As of Feb. 9, the DTI-Board of Investments (BOI) has approved P414.3 billion in total investment projects.
CURRENTPH NEWS SERVICE