President Ferdinand 'Bongbong' Marcos Jr. (Noel Pabalate)

House Senior Deputy Speaker and Pampanga 3rd district Rep. Aurelio “Dong” Gonzales Jr. says President Marcos' investment missions abroad are now starting to produce positive results.

“The President’s investment promotion missions, boosted by related measures approved by Congress and signed into law by the President, are beginning to yield positive results for the country and our people,” Gonzales said in a statement on Sunday, March 31.

For proof, Gonzales pointed to the recent HSBC Global Research report, which said the investment environment in the country was “turning for the better”.

In a commentary, the financial institution said the foreign direct investment (FDI) inflows of the Philippines, relative to the size of the economy, are in the “middle of the pack” of the Association of Southeast Asian Nations (ASEAN).

“FDI inflows may not be as robust as say, Malaysia and Vietnam, but they are a sizable improvement from the sluggish inflows seen in the 1990s and the early 2000s. This, we believe, should be enough evidence to show that the country’s reputation [for] attracting FDI is, indeed, turning for the better,” it said.

Gonzales commended the efforts of President Marcos and House Speaker Martin Romualdez—who frequently accompanies the president in his foreign trips—for making the Philippines a potentially profitable investment destination for foreign investors.

“The improved investment outlook of investors like the recent high-level American trade mission to Manila, and actual investments and pledges committed during the President’s investment trips augur well for the nation in the years ahead,” the House leader noted.

“These commitments, if realized, will sustain our economic growth and create new job and income opportunities for our people,” he added.

The United States (US) trade mission vowed at least $1 billion in investments, with several billion dollars worth of pledges already ushered in by Marcos through his foreign trips.

Gonzales emphasized that Romualdez and the House of Representatives have been aiding the President in attracting FDIs by approving several measures to enhance the investment climate in the country.

These bills include the recently enacted Ease of Doing Business Act and the law reducing the corporate income tax and offering other tax incentives, he said.

The Pampanga lawmaker further explained that the investment environment would see more improvements if the proposed amendments to the supposed economic restrictions in the 1987 Constitution are finally enacted.

“As the Speaker has repeatedly emphasized, these amendments would constitute the final piece in the puzzle of investment promotion measures that would boost the economy,” said Gonzales.