Ferdinand “Bongbong” Marcos Jr. assumed the role of a “traveling salesman” in his first 100 days as president, making three international visits to entice foreign investors to establish business in the Philippines.
The trips comprised state visits to two Southeast Asian nations, Indonesia (September 4–6) and Singapore (September 6–7), as well as a business visit to the United States (US) from September 18–24.
He delivered corporate pledges of USD18.92 billion (nearly PHP1 trillion), which are expected to produce 134,285 jobs.
In his first State of the Nation Address on July 25, Marcos stated that the government will work to make the Philippines a “investment destination” by leveraging the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law and economic liberalization legislation such as the Public Service Act and the Foreign Investments Act.
He stated that attracting foreign investors will help the Philippines’ economic recovery efforts and provide more jobs for Filipinos.
Throughout his tours, Marcos emphasized the Philippines’ “favorable” business climate, claiming that the country’s economic rebound made it a “smart” place to invest.
