112K new jobs seen in $3.9-B investment pledges from US

Over 112,000 new jobs will be created from the business deals secured by President Ferdinand R. Marcos Jr. during his working trip in the United States (US) last week.

Malacañang said this was the initial projected number of employment opportunities to be generated by the estimated $3.9 billion worth of investments from the said visit.

“These investments will come from different sectors such as Information Technology and Business Process Management [IT-BPM], data centers, and manufacturing,” the Palace said in a news statement issued on Thursday.

As of this writing, the Palace has yet to disclose the names of the US-based firms, which will be investing in the country.

It is hopeful, however, that the said investments could still increase once the other pending business deals, which were initiated during Marcos’s visit in the US, are finalized.

Marcos met with several companies and business groups in the US last week in a bid to attract more foreign investors in the country.

He noted the new investments will be crucial in local pandemic recovery initiatives and in helping in the development of the government’s priority sectors, namely, information technology-business process management, digital infrastructure, garments and apparel, as well as industry and infrastructure.

Marcos also assured the government will implement policies and legislation, which will be beneficial for both local and foreign businesses.

Currently, the country remains a “smart investment choice” in Asia due to its projected economic growth and strong economic fundamentals, according to the President.