The impact of the recent state visit made by President Ferdinand "Bongbong" R. Marcos Jr. and the Philippine delegation to Japan will be felt within the next three years, the Department of Trade and Industry (DTI) disclosed on Tuesday, Feb. 14.
In a “Laging Handa” briefing, DTI Assistant Secretary Glenn G. Peñaranda said the country will soon feel the impact of the investment pledges, which includes thousand of job opportunities for Filipinos.
"Nabanggit na rin na po ito ni Secretary Pascual, na most of the time frames are within the next three years. It will take time po to settle the factory or to put up the power plants. But we feel that within the next three years, mararamdaman natin–some of the projects po, within this year ay i-implement na–but definitely within the term of this administration (As mentioned by Secretary Pascual, most of the time frames are within the next three years. It will take time to settle the factory or to put up the power plants. But we feel that the impact of these deals can be felt within the next three years. Some of the projects will be implemented within this year, but definitely within the term of this administration)," Peñaranda stated.
"Ang bottom line po lahat nito ay, it will generate jobs. Na-report na nga po na based on what we have now, we are expecting na around 24,000 jobs will be generated out of these investment pledges (The bottom line is, it will generate jobs. As reported, based on what we have now, we are expecting na around 24,000 jobs will be generated out of these investment pledges)," he went on.
At present, the government has been doing the green-laning initiative to make it easier for investors to invest in the country.
"We have this green laning initiative ng government para matutukan itong mga projects na ito, at saka iyong streamlining the process and procedures at saka iyong pagkakaroon ng account officers sa BOI at saka sa iba pang investment promotion agencies (We have this green laning initiative of the government to focus on projects like these and streamline the process and procedures, as well as having account officers at BOI and other investment promotion agencies)," the official noted.
"Kasama din po dito iyong aming mga tao doon sa Japan, sa Tokyo at saka sa Osaka, na makipag-ugnayan doon sa mga investors in a close way to handhold them as they implement this project. Ito po ay dagdag pa sa continuing efforts natin to make the economy really competitive po. Kasi iyong investments, we are competing with other countries, but we want to be sure that the Philippines will be very competitive at saka will be on top of mind of the Japanese investors (This includes our people in Tokyo and Osaka, Japan, who communicate with investors there in a close way to handhold them as they implement this project. This is aside from our continuing efforts to make the economy really competitive. With these investments, we are competing with other countries, but we want to be sure that the Philippines will be very competitive and will be on top of mind of the Japanese investors)," he further explained, quoting what Marcos told Japanese companies, “When you think of growth, think of the Philippines.”
With the good economic performance of the country and its large population, he said, the Philippines now offers a very attractive location for investments.
It can be recalled that Pascual revealed over the weekend that several investment agreements and pledges are “ready to go” following PBBM's recent visit to Japan, saying the Philippine delegation in Tokyo raked in 35 investment pledges spanning across business interests in infrastructure, energy, manufacturing, healthcare, telecommunications, among others.