Speaker believes more Saudi investments will come into PH

House Speaker Martin Romualdez | PHOTO: Official website of the House of Representatives / congress.gov.ph

MANILA, Philippines — House Speaker Ferdinand Martin Romualdez believes more investments from Saudi Arabia would come into the country, even after the US$4.26-billion pledge that President Ferdinand Marcos Jr. secured during his trip to the Middle Eastern country.

In a statement on Friday, Romualdez said he is optimistic that more investments and jobs await Filipinos after Marcos’ discussions with key players in Saudi Arabia.

“Our distinguished friends from Saudi Arabia expressed a strong interest in exploring various investment opportunities in our country. Their willingness to consider the Philippines as a destination for their investments speaks volumes about the potential and attractiveness of our nation as an investment hub,” Romualdez said.

“I believe that the strategic partnership that is emerging from this meeting will open doors to new ventures, create job opportunities for our people, and further enhance our economic growth,” he added.

Romualdez meanwhile assured the executive and the public that they would be working towards ensuring a business-friendly environment that will facilitate the actualization of these investment pledges.

“As Speaker of the House of Representatives, I am confident that our legislative body will work closely with the Executive branch to implement policies and enact laws that will support and facilitate these investments,” he noted.

Earlier, Romualdez praised Marcos for securing four landmark deals in Saudi Arabia worth around US$4.26B, which is believed to create more than 15,000 jobs for Filipinos.

Marcos witnessed the signing of four agreements, which were made at the latter part of his visit to the said country for his participation in the Association of Southeast Asian Nations-Gulf Cooperation Council Summit.

“The signing of these agreements which promises a far-reaching impact on the Philippine economy and on the lives of our workers is a monumental achievement of President Marcos,” Romualdez said.

READ: Saudi Arabian business leaders express interest in Maharlika Investment Fund 

“This is the fruit of his tireless efforts in fostering economic ties with our partners in the international community and exemplifies his commitment to securing a brighter future for the Filipino people in line with his vision for a prosperous and globally competitive Philippines,” he added.

Aside from the investments, Marcos also said that Saudi investors have expressed interest in the Maharlika Investment Fund (MIF), the country’s first sovereign wealth fund, which the administration intends to use to bankroll infrastructure projects.

JPV