BUSAN, South Korea — President Marcos announced that South Korean tech giant Samsung will pour some P50.7 billion into expanding its operations in its Calamba, Laguna facility, a move expected to create at least 3,000 new jobs and strengthen investor confidence in the country’s economy.

Speaking to reporters after the APEC Summit, Marcos said Samsung’s expansion was made possible through the government’s fiscal reforms, such as the CREATE MORE law, which provides tax incentives to large-scale investments exceeding P50 billion.

“Samsung has already employed 8,000 Filipinos in their very high-tech manufacturing plant. They asked me if we could help them with their expansion in the Philippines — mabuti na lang meron nang (good thing we now have the) CREATE MORE, which qualifies large investments for tax exemptions,” he said.

The President said the company’s commitment reflects growing trust in the country’s economic climate and reform efforts.

Before his interview, Marcos witnessed the signing of a Supplemental Agreement between the Department of Trade and Industry (DTI)'s Philippine Economic Zone Authority (PEZA) and Samsung Electro-Mechanics Philippines Corporation (SEMPHIL).

“The agreement reaffirmed the Philippines’ dedication to nurturing a competitive and investor-friendly environment for high-technology industries,” the Presidential Communications Office (PCO) said.

President Marcos emphasized that technology transfer and workforce training are key components of Samsung’s expansion plan.

“Lahat ng mga nag-iinvest sa atin, sinasabi ko, kailangan mag-train kayo ng tao. Kailangan tuloy-tuloy ang training ninyo (All investors in the Philippines must train our people and ensure continuous upskilling),” he said.

He said Samsung has agreed to partner with Philippine universities for training programs and joint research and development.

“That’s very important — the transfer of technology,” Marcos noted.

Meanwhile, Marcos cited renewed confidence among foreign investors, saying that transparency and anti-corruption efforts have strengthened perceptions of good governance in the Philippines.

“If we had not exposed it, then they would be saying there’s a problem. Now that we’ve exposed it, their confidence is stronger,” he said, referring to recent corruption probes.

“The level of confidence in the Philippine economy has changed — restored. The only problem is if the government is doing nothing about it,” he added.