President Ferdinand “Bongbong” Marcos Jr. has successfully secured investment pledges worth $672.3 million during his recent attendance at the 30th Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting in San Francisco, California.
These pledges cover a range of sectors including telecommunications, artificial intelligence, semiconductor and electronics, pharmaceutical and healthcare, and renewable energy.
In addition to these investments, Marcos also secured commitments for the deployment of the first two Internet MicroGEO satellites dedicated to the Philippines, as well as the development of a groundbreaking AI-driven weather forecasting program for the country.
During the APEC trip, Ayala Corporation Health and Varian Medical Systems agreed to establish the first specialty oncology hospital in the Philippines. The primary goal of this hospital is to enhance service efficiency and accessibility for Filipino patients in need of cancer care.
Furthermore, the trip resulted in the establishment of the first manufacturing facility in the Philippines approved by the US Food and Drug Administration. This significant milestone was achieved through an agreement between Lloyd Laboratories and Difgen.
Lastly, Meralco and Ultra Safe Nuclear Corporation signed an agreement for the initial phase of a sustainable energy project. The objective of this project is to provide affordable and reliable power access to the people.
Source: PhilNews24 | November 20, 2023
