A RANKING member of the House of Representatives expressed optimism that President Ferdinand “Bongbong” Marcos Jr. will bring in more investments for the country when he attends the 2023 Asia-Pacific Economic Cooperation (APEC) Leaders’ Meeting in iconic San Francisco, California this coming Nov, 15-17.
Newly installed Deputy Speaker Yasser Alonto Balindong of the 2nd District of Lanao del Sur said the APEC summit, hosted by the United States this year, will be attended by world leaders, including Japan, Singapore, Australia, New Zealand, Canada, Korea and many more.
“I bid President Marcos Jr. good fortunes when he attends the APEC summit this coming week. He is in an ideal position to bring in more pledges for foreign investments. Since he began his term as Chief Executive in 2022, he has already brought billions of dollars in investment pledges,” Balindong, concurrent chair of the House Committee on Mindanao Affairs, said.
He added that President Marcos has always been intentional and deliberate in enticing foreign investments whenever he goes out of the country in an official capacity.
“I encourage my colleagues to support President Marcos Jr. in his endeavor to propel our economy to great heights by passing priority legislation that will make the investment climate in the country more conducive and attractive to foreign investors,” Balindong noted.
The APEC was established in 1989 as a regional economic forum to buttress the growing interdependence of countries in the Asia Pacific. The Philippines joined APEC in November 1989, and the organization has already grown to 21 member economies.
“They call members of the APEC ‘economies’ because the discussions in this forum are predominantly about economy and trade relations. We do hope and pray that President Marcos Jr. will be able to bring home more investments that will help our economy and our people,” Balindong said.
The Philippine economy grew 5.9% during the third quarter of 2023, which is higher than projections from economic experts, making the country the fastest-growing economy in Asia, besting Vietnam, Indonesia and even China.
Also, the Philippines posted a total of P1.4 trillion in approved investments since the start of President Marcos Jr.’s administration. It will be recalled that early on in the President’s term, he went on an investment and trade mission to several countries that netted billions of dollars in investment pledges.
“And President Marcos Jr.’s efforts are now paying off. At hindi tumitigil ang ating Pangulo. Patuloy pa rin siya sa paghahanap ng foreign investments para sa ating bansa,” Balindong noted.
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