President Ferdinand Marcos Jr., House Speaker Martin Romualdez, Philippine Ambassador to the United States Babe Romualdez, Trade Secretary Alfredo Pascual and Presidential Communications Office Secretary Cheloy Garafil speak with Singaporean businessmen at the 10th Asian Summit. (Photo from PCO)
MANILA, Philippines — Palace on Friday announced India’s GMR Group is interested in investing in the Philippines.
Executives from the India-based multinational conglomerate met with President Ferdinand “Bongbong” Marcos Jr. while he was in Singapore for the 10th Asian Summit.
“India’s GMR Group has expressed interest in investing in the Philippines particularly in airports, roads and energy projects as the Marcos administration embarks on an ambitious infrastructure development through the ‘Build Better More’ program,” said Palace in a statement.
Marcos met with the chairman of GMR Airports Srinivas Bommidala and told him of the administration’s infrastructure thrust.
The President emphasized infrastructure capacity in Manila needs to be improved.
“We want that, especially when it comes to travel, tourism, business travel, etc. We want it to increase as much as possible. I’m glad that you are looking at the Philippines,” said Marcos.
Palace said GMR will provide a long term plan for its investments.
However, it did not specify when this proposal will be handed over to Philippine government.
“We’ve been trying. The reason we go to this process is that it is a major part of our economic program,” Marcos said.
“Well, of course, Manila is the gateway. Even regional airports, we are starting to develop, so that not everyone has to get to Sangley or Bulacan,” the President told GMR executives.
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