In his third State of the Nation Address, President Ferdinand R. Marcos Jr. announced that current investment commitments in the Philippines are expected to create over 202,000 jobs.
The Department of Trade and Industry (DTI) reported that more than 200 investment leads, valued at over USD 70 billion, are in the pipeline for project registration with the Board of Investments (BOI) and the Philippine Economic Zone Authority (PEZA).
Marcos highlighted that the CREATE Act has already generated PHP 1 trillion in investments and over 100,000 jobs, and called for further opportunities through the proposed CREATE MORE Act.
He also noted improvements in the ease of doing business due to digitalization and streamlined processes, including the “green lane” initiative which has facilitated over 100 projects with significant potential investments.
DTI Secretary Alfredo Pascual added that 20 projects committed during presidential visits have begun operations, contributing USD 1.26 billion in capital.
Source: PhilNews24 | July 23, 2024
