Investment pledges made during President Ferdinand "Bongbong" Marcos Jr.'s state visits could take time to materialize, according to National Economic and Development Authority chief Arsenio Balisacan on Tuesday.
Balisacan explained that investors usually "do their work" to guarantee the benefits they would get from making investments to a certain country. "As usually the case, you don't expect that when they promise they come in, the next day they are there. That's not the real world," he added.several letters of intent and memorandums of understanding have been signed with Indonesian and Singaporean investorsThe President said the LOIs and the MOUs were in the sectors of renewable energy, data centers, e-commerce, broadband technology, startups, government housing and agriculture.
Anyone can make pledges but the fulfillment of the pledges are not compulsory. When will it be?