On Thursday, President Ferdinand Marcos Jr. said that the investment commitments he received during his state visit to Malaysia totalled about $285 million.

Marcos reported that Malaysian businessmen expressed interest in investing in the Philippine food processing sector, multi-service digital platforms, aviation, aviation maintenance support services, manufacturing, infrastructure, water and wastewater treatment, logistics, and manufacturing.

According to Marcos, who was quoted by the Presidential Communications Office, “the investments that we have agreed on so far will inject a total of about $285 million, serving as a robust and affirmative indication of the ongoing trust and keen interest of businesses and investors in the Philippines.”

He continued by saying that Malaysian companies had helped the nation’s economy expand in terms of infrastructure and employment.

$108 million in foreign direct investments from Malaysia were made in the Philippines, according to Marcos.

It has lingered there for a very long time. With the new change, which presents a number of fresh prospects, I believe the timing is right to improve the level of trade that we have been obtaining for many years, he added.

The President said that his administration would ensure that the Philippines had a friendly business climate for foreign investors, stressing that the government had recently established green lanes to facilitate the entry of vital investments.

He also emphasised the need for “balance” and putting manufacturing on a “more equal level with the service industry” in terms of its contribution to the nation’s gross domestic product (GDP) during the Philippine Business Forum in Kuala Lumpur.

The services sector provided 61.1 percent of the nation’s GDP in the first quarter of the year, while manufacturing made up 17.6 percent, according to data from the Philippine Statistics Authority.

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