MANILA – According to a Palace official, President Ferdinand “Bongbong” Marcos Jr. will return from his three-day visit to Indonesia with business deals worth approximately USD8.48 billion (PHP466.6 billion).
These agreements, which were obtained during Marcos’ roundtable discussion with Indonesian business leaders and investors on Monday, will generate at least 7,000 new jobs, Press secretary Trixie Cruz-Angeles said.
She stated that the Philippine government secured USD7 billion in infrastructure for unsolicited private-public partnerships (PPPs), including a 4-level elevated C-5 expressway.
In addition to USD822 million in investments in textiles, garments, renewable energy, satellite gateway, wire global technology, and agrifood, Marcos’s trip generated USD662 million in trade value for the supply of coal and fertilizer.
Marcos told reporters in Jakarta that Indonesian business leaders and investors were “very enthusiastic” about establishing businesses in the Philippines.
He added that they have committed to “expanding” their investments in the country.
Marcos also stated that discussions about PPP agreements were the “most extensive.”
The official visit of Marcos to Indonesia took place from September 4 to 6.
Besides business agreements, his trip yielded pacts on defense cooperation, cultural cooperation, creative economy, and a plan of action for bilateral cooperation.
He is now in Singapore to strengthen the nation’s trade and investment ties with its Southeast Asian neighbor.
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