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Marcos-led PH delegation secures $4.26B Saudi investment pact

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PRESIDENT Ferdinand “Bongbong” Marcos Jr. will bring home over $4.26 billion worth of investment agreement with Saudi Arabia business leaders.Marcos met with Saudi business leaders on Thursday, October 19, 2023, at the sidelines of his attendance at the Association of Southeast Asian Nations-Gulf Cooperation Council Summit.

Marcos assured the Saudi investors of continued support from the Philippine government especially by amended existing laws such as the Foreign Investments Act, Retail Trade Liberalization Act, Public Service Act, and the Renewable Energy Act, which aim to attract more foreign investors particularly for telecommunications, port operations, transportation, and clean energy sectors.

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