Romualdez cites economic gains from President’s Saudi trip

House of Representatives Speaker Ferdinand Martin Romualdez (Photo from official website of the House of Representatives / congress.gov.ph)

MANILA, Philippines — House of Representatives Speaker Ferdinand Martin Romualdez lauded President Ferdinand “Bongbong” Marcos Jr. on Sunday for bringing $4.2 billion worth of investment pledges to the country from his two-day trip to Saudi Arabia.

In a statement, Romualdez said that around 300,000 Filipinos will benefit from the investment pledges.

“In light of these significant accomplishments, we commend President Ferdinand Marcos, Jr. for his immensely successful visit to the Kingdom of Saudi Arabia,” said Romualdez.

“His dedication, exceptional diplomatic finesse and vision for our nation’s future have resulted in tangible benefits for our country and our people, and we eagerly anticipate the positive impact these achievements will have on the Philippines’ growth and prosperity,” he added.

These investments, the Speaker said, are a testament to other countries’ growing confidence in the Philippines as a prime destination for foreign capital and proof of Marcos’s vision for a more prosperous and interconnected global economy.

Saudi Arabian business and government officials likewise assured Marcos of their willingness to invest in the country for mutually beneficial ventures, said Romualdez.

This includes food production as well as their preference for Filipino workers to meet their growing demand for labor.

Romualdez added that the President had a “brief but promising” meeting with the Kuwaiti Crown Prince.

“This encounter brings hope for the restoration of diplomatic relations between our two nations, which had previously been strained due to labor issues and the need to protect the welfare of Overseas Filipino Workers,” Romualdez said, adding that the Kuwaiti monarch told Marcos that he is displeased with the present Philippine-Kuwait relation and that the Philippines does not need to issue an apology.

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