$285-M investment pledges from state visit to Malaysia — Bongbong Marcos

MANILA, Philippines – President Ferdinand “Bongbong” Marcos Jr. on Thursday said his state visit to Malaysia yielded up to  $285 million worth of investment pledges.

Marcos, in a statement shared by the Presidential Communications Office, stated that he met with several Malaysian business leaders during his three-day state visit.

These commitments, Marcos said, will have valuable contributions to the Philippines’ continuous economic growth and the strong ties between the two countries.

“I had the benefit of meeting a number of Malaysian businesses in the key sectors of agriculture, transportation, and technology,” Marcos said.

“The investments that we have agreed on so far will inject a total of about $285 million, serving as a robust and affirmative indication of the ongoing trust and keen interest of businesses and investors in the Philippines,” he added.

Marcos, in his pitch to investors, touted the signs of economic recovery exhibited by the Philippines, despite the COVID-19 pandemic.

Marcos also noted that the Philippines is one of the best-performing economies in the region. 

In 2022, the Philippines’ registered a 7.6 percent gross domestic product (GDP) growth — ranking high along with Malaysia’s 8.7 percent in the same year. 

Marcos flew to Malaysia on Tuesday — just a day after his State of the Nation Address (Sona) — for a three-day state visit.

Previously, Marcos discussed several issues with the Malaysian government’s leaders — which his cousin, House Speaker Ferdinand Martin Romualdez, said would be good for Philippines-Malaysia ties.

gsg/abc