Marcos secures P804.78-B investment pledges from Indonesia, Singapore

PRESIDENT Ferdinand “Bongbong” Marcos Jr. said Wednesday, September 7, 2022, that a total of $14.36 billion or P804.78 billion worth of investment pledges were secured during his state visits in Indonesia and Singapore.

* Plan of Action between the Government of Republic of Indonesia and the Government of the Republic of the Philippines from 2022 to 2027; In a business roundtable meeting, MOUs and Letters of Intent, including the $822 million worth of investment pledges in textiles, garments, renewable energy, satellite gateway, wire global technology, and agri-food; $7 billion in infrastructure for unsolicited private-public partnerships such as a C-5 four-level elevated expressway; and $662-million trade value for the supply of coal and fertilizer were also inked.

* Renewal of the MOU on Water Collaboration between the Metropolitan Waterworks and Sewerage System of the Philippines and the Public Utilities Board of Singapore. “We all shared the view that in this time of geopolitical turmoil and uncertainty, unity, mutual respect, and the principle of sovereign equality should always prevail in our efforts to uphold peace and stability and an environment conducive to our continued national development,” he added.

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