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Manila Bulletin devider Philippines devider National devider 102k jobs to open in IT-BPM sector if investments from Marcos' NY trip push through

102k jobs to open in IT-BPM sector if investments from Marcos' NY trip push through

Published Sep 29, 2022 05:32 pm

Over 100,000 jobs will be generated in the Information Technology and Business Process Management (IT-BPM) sector should the investment pledges the country got from President Ferdinand "Bongbong" Marcos Jr.'s trip to New York materialize, the state media said.

President Ferdinand 'Bongbong' Marcos Jr. and his economic team hold a business meeting with leading fast-moving consumer goods entity Procter & Gamble (P&G) in New York City on September 22, 2022 (New York Time). (Malacañang photo)

This developed after Malacañang announced that business agreements and commitments secured during the President's working visit last week have an estimated investment value of $3.9 billion.

A report by State-run PTV-4 showed that 102,435 jobs would be generated in the IT-BPM sector if the investments worth $55 million would push through.

Investment pledges in the data center sector amounted to $3 billion and would generate 9,000 jobs.

Meanwhile, Marcos' visit to New York City secured $847 million in investment pledges for the manufacturing sector. This could open 850 jobs in the manufacture of aerospace parts, electronics, consumer goods, batteries, and heated cigarettes.

Overall, Marcos' New York trip raked in $3.902 billion in investment pledges that could generate 112,285 jobs for Filipinos.

In a statement, Malacañang said that the estimates do not reflect the full potential of future investments from several companies that the President and the Department of Trade and Industry (DTI) met in New York.

It said some companies had expressed interest in considering new or further investments in the country, but their plans have yet to be firmed up.

During his six-day working visit to New York, Marcos met with executives from different companies in various sectors like consumer goods, energy, and aerospace parts.

The President was mainly in the US to attend the United Nations General Assembly (UNGA).

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Bongbong Marcos Economic recovery President Marcos
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