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Manila Bulletin devider Philippines devider National devider Big investment pledges prove PBBM has sound economic, fiscal policies--Romualdez

Big investment pledges prove PBBM has sound economic, fiscal policies--Romualdez

Published Jul 21, 2023 04:54 am
House Speaker Martin Romualdez (left), President Ferdinand "Bongbong" Marcos Jr. (Speaker’s office)





The deluge of investment pledges to the Philippines in the first quarter of 2023 "affirms the soundness of the economic and fiscal policies" of the President Ferdinand "Bongbong" Marcos Jr. Thus, said House Speaker Martin Romualdez as he pointed to reports saying that investment approvals have more than tripled in the first semester, thanks to pledges from abroad. “It is a clear vote of confidence in the Philippine economy's potential and prospects and affirms the soundness of the economic and fiscal policies of President Bongbong Marcos geared towards the attainment of his vision to bring our country to upper-middle income status by 2025,” Romualdez said in a statement Friday, July 21. “Likewise, this development signals that the world is responding positively to the President’s vigorous campaign to promote the Philippines as a prime destination for investment and a recognition of our steadfast pursuit of sustainable and inclusive growth,” he added. The investments for the first quarter were pegged at P698 billion--203 percent higher than the P230 billion recorded during the same period last year, according to the Board of Investments. The House leader reckoned that it is incumbent upon the government to capitalize on the development and ensure that these pledges translate to actual investments and ultimately provide tangible benefits to the Filipino people. “We must continue to work hand in hand with the private sector to create an enabling environment that fosters job creation, economic diversification, and innovation,” said Romualdez, Leyte's 1st district representative. Romualdez reiterated the commitment of the House to prioritize legislation geared toward the realization of the President’s vision to greatly improve the Philippine economy, reduce the prices of everyday commodities, and increase the purchasing power of every Filipino citizen He earlier vowed swift action from the House of Representatives to pass the new set of priority bills agreed upon by the Legislative Executive Development Advisory Council (LEDAC) before the year ends. Before the end of the first regular session of the 19th Congress last May 30, the House had already approved 33 out of the 42 priority measures of the Marcos administration. The second regular session will start on July 24.

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Ferdinand Bongbong Marcos Jr. investment Martin Romualdez
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