Marcos said Dyson made the right decision to choose the country for their investments.
Dyson said its investment would generate around 1,250 jobs.
Marcos gets P11-B pledge from SG-based tech firm Dyson
At a glance
President Marcos has welcomed the P11-billion investment pledge of Singapore-based multinational technology company Dyson to the Philippines, saying this will open opportunities to Filipino software engineers and other engineering graduates.
Marcos said this as he received the confirmation of Dyson's investment pledge following their meeting in Singapore on Saturday, Sept. 16.
The President was delighted to hear Dyson's interest in investing in the Philippines, saying they made the right decision to choose the country for their investments.
"Let's see, with all those that we have, that we can do," he told Dyson officials.
Marcos said Dyson's decision to expand their operations in the Philippines "will be very interesting" for the Philippines and the Filipino people. He noted that their investment would mean hiring more software engineers and other engineering graduates.
According to Dyson, their investment would generate around 1,250 jobs and move more contract manufacturing into the Philippines by the middle of 2024 or the "second or third quarter" of the year.
In a statement, the Presidential Communications Office (PCO) said Dyson was "very proud" to be in the Philippines, especially with the significant number of operations they already have in the country.
"Three, four months ago, we made a decision that we want to further our investment to the Philippines, with expanding our presence there, and today we only have a factory producing our own electrical motors," a Dyson official reportedly told President Marcos.
"So we have announced a significant investment equivalent of P11 billion into the new factory, the new R&D (research and development) center. We want to expand also in terms of staff, software, and others that we require over the next two years," the official added.
House Speaker Martin Romualdez, who went with Marcos to Singapore, said the Chief Executive welcomes and supports the investment pledge of Dyson.
Aside from Romualdez, Communications Secretary Cheloy Garafil, Trade Secretary Alfredo Pascual, and Finance Secretary Benjamin Diokno joined Marcos in his meeting with Dyson officials.