10-7-2023 (MANILA) Senator Raffy Tulfo has called on President Ferdinand “Bongbong” Marcos to discuss during his second State of the Nation Address the timeline for the investment pledges secured during his foreign trips and when they will translate to jobs and other tangible benefits for Filipinos. Tulfo expects the president to discuss his numerous accomplishments, including the “economic partners and investors” he has tapped during his trips abroad.
While foreign companies have committed to investing in the country, Tulfo raised the question of when Filipinos will reap the benefits of these investments. He also commended the president for his “excellent” job, adding that Marcos is different from his predecessor, former President Rodrigo Duterte, who “liked to pin the blame of his problems on the administration he inherited it from.”
Marcos has visited at least ten countries and made 11 international trips since his term began, securing investment pledges worth P3.48 trillion from 116 investment projects, according to Malacañang.
Meanwhile, Senator Koko Pimentel said that the president should also discuss measures to address the recurring water shortage and looming threat of El Niño during his SONA. Pimentel hopes that Marcos will not just focus on the Maharlika Investment Fund but also present long-term strategies and sustainable solutions to mitigate the effects of water shortage and El Niño.
Angat Dam, which supplies over 90% of Metro Manila’s water needs, has dipped below the minimum operating level of 180 meters, prompting water service interruptions in Metro Manila. Pimentel stressed the need for the government to take an “anticipatory approach” to the current water crisis, citing the staggering economic implications of a strong El Niño event that could lead to national GDP losses of up to $3.3 billion, according to Union Bank of the Philippines, Inc. Chief Economist Ruben Carlo Asuncion.
