27-7-2023 (MANILA) President Ferdinand Marcos Jr. announced on Thursday (July 27) that his state visit to Malaysia has resulted in investment pledges worth up to US$285 million.
In a statement shared by the Presidential Communications Office, President Marcos revealed that during his three-day state visit, he engaged with various Malaysian business leaders.
The investment commitments made during these meetings are expected to make significant contributions to the continuous economic growth of the Philippines and further strengthen the bilateral ties between the two nations.
“I had the opportunity to meet with several Malaysian businesses operating in key sectors such as agriculture, transportation, and technology,” stated President Marcos.
“The agreed-upon investments amounting to approximately $285 million demonstrate a strong vote of confidence and keen interest from businesses and investors in the Philippines,” he added.
In his efforts to attract investors, President Marcos highlighted the signs of economic recovery exhibited by the Philippines, even amidst the challenges posed by the Covid-19 pandemic.
He also emphasized that the Philippines has emerged as one of the best-performing economies in the region, with a remarkable 7.6 per cent gross domestic product (GDP) growth in 2022, standing alongside Malaysia’s impressive 8.7 per cent in the same year.
President Marcos embarked on his three-day state visit to Malaysia immediately after delivering his State of the Nation Address (SONA).
During his visit, President Marcos engaged in discussions with leaders of the Malaysian government, with House Speaker Ferdinand Martin Romualdez, his cousin, expressing optimism about the positive impact these talks would have on Philippines-Malaysia relations.
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