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PBBM's Malaysia visit expedites potential $3-B investment to PH

Philippines | National

PBBM's Malaysia visit expedites potential $3-B investment to PH

By Ellson Quismorio

(MANILA BULLETIN)

House Speaker Martin Romualdez has revealed a potential $3-billion investment in the Philippines that was discussed during President Ferdinand "Bongbong" Marcos Jr.'s three-day state visit to Malaysia. Romualdez said the potential deal has to do with Filipino business tycoon Manny V. Pangilinan's Metro Pacific Investments Corporation (MPIC). “We were informed at a private dinner that the MPIC Group of Chairman Manny V. Pangilinan entered into a memorandum of agreement where initially the MPIC will invest into the railway company and they plan on investing into the Philippines into the railway system” Romualdez said during the President’s press briefing before leaving Kuala Lumpur on Thursday, July 27. The Speaker said that the Marcos' visit to Kuala Lumpur hastened the progress of the agreement, and that according to the group, “$3 billion will be pledged for investments” into the Philippines. He added that the company will also look into the possibility of using cable car as a transport system in addition to opening up airports along missionary routes in our country. “They have a very, very long string of success stories here in Malaysia they’d like to replicate that in the Philippines,” Romualdez, Leyte's 1st district representative, said. Marcos' state visit to Malaysia took place from July 25 to 27. Romualdez was part of the President's delegation.

Related Tags

Ferdinand Bongbong Marcos Jr. Malaysia Martin Romualdez Manny V. Pangilinan

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