AnaKalusugan Party-list Rep. Ray Reyes says the almost 90 percent increase in foreign direct investments (FDIs) between January 2023 and January 2024 is mainly due to President Marcos' efforts in "selling" the Philippines during his international trips.
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Apr 18, 2024 04:29 AM
At a glance
President Ferdinand "Bongbong" Marcos Jr. (Noel Pabalate/MANILA BULLETIN)
The almost 90 percent increase in foreign direct investments (FDIs) between January 2023 and January 2024 is mainly due to President Marcos' efforts in "selling" the Philippines during his international trips.
Thus, said AnaKalusugan Party-list Rep. Ray Reyes, who reiterated his tag of Marcos as being the "country's chief salesman".
"He is doing a very good job at it. The results speak for itself," Reyes said in a recent statement, referring to the Chief Executive.
"A 90-percent increase in FDI is nothing to sneeze at. What we see is only the beginning and we look forward to more investments this year," noted Reyes.
According to the Bangko Sentral ng Pilipinas (BSP), the Philippines reached $907 million in net FDIs in January 2024--a increase of 89.9 percent in the same month last year.
Japan was the leading source of FDI in January, accounting for 69 percent of the total. The United States (US) came in second at 19 percent.
"This is no coincidence because the President met with Japanese prime minister Kishida Fumio and other ASEAN leaders in Tokyo last December," Reyes said. ASEAN stands for Association of Southeast Asian Nations.
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"With this in mind, the president's critics should put all doubt to rest and admit that his international engagements are indeed vital to support the country's development agenda," added the rookie solon.
Earlier this month, President Marcos flew to Washington, DC for a trilateral summit with United States (US) President Joe Biden and Japanese Prime Minister Fumio Kishida. The summit was the first of its kind between the three countries.
“We echo Speaker Ferdinand Martin Romualdez in congratulating the president for being part of this historic meeting," Reyes said.
"All of us in the House of Representatives are committed to do our part in ensuring the passage of laws that will safeguard our territorial integrity and improve the lives of the Filipino people," he further said.