Romualdez: Investment pledges sign of trust in PH economy

Speaker Ferdinand Martin G. Romualdez.

MANILA, Philippines — House Speaker Martin Romualdez stated on Friday that the surge in investment pledges at the start of 2023 represents a vote of confidence in the Philippine economy.

President Ferdinand Marcos Jr. and other Cabinet members have embarked on international tours to secure investment pledges. In May, Marcos announced that his administration had garnered $1.3 billion in investment pledges during his trip to the United States.

READ: $1.3B in investment pledges secured during President Marcos’ US visit

“It is a clear vote of confidence in the Philippine economy’s potential and prospects and affirms the soundness of the economic and fiscal policies of President Bongbong Marcos geared towards the attainment of his vision to bring our country to upper-middle income status by 2025,” Romualdez said in a statement.

According to Romualdez, the world is responding positively to Marcos’ vigorous campaigns promoting the Philippines as a prime investment destination.

The House Speaker also stated that the government must maintain this momentum and leverage it to convert into actual investments, translating it into tangible benefits for Filipinos.

“We must continue to work hand in hand with the private sector to create an enabling environment that fosters job creation, economic diversification, and innovation,” Romualdez said.

He also said that the executive and legislative branches must collaborate to solidify the Philippines’ position as an investment destination, reiterating the House of Representatives’ support for the Marcos administration’s priority measures.

The Lower Chamber managed to pass 33 out of 42 priority measures by the end of the 1st Regular Session of the 19th Congress.

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