PBBM’s attendance in APEC ’23 means more investments–House leader
A RANKING member of the House of Representatives expressed optimism that President Ferdinand “Bongbong” R. Marcos Jr. will bring in more investments for the country when he attends the 2023 Asia-Pacific Economic Cooperation (APEC) Leaders’ Meeting in San Francisco, California on Nov. 15-17.
Newly-installed Deputy Speaker Yasser Alonto Balindong of the 2nd District of Lanao del Sur said the APEC summit, hosted by the United States, will be attended by leaders of Japan, Singapore, Australia, New Zealand, Canada, Korea and many more.
“I bid President Marcos Jr. good fortune when he attends the APEC summit. He is in an ideal position to bring in more pledges for foreign investments.
Since he began his term as Chief Executive in 2022, he has already brought billions of dollars in investment pledges,” Balindong, concurrent chairman of the House committee on Mindanao affairs, said.
He added that President Marcos has always been intentional and deliberate in enticing foreign investments whenever he goes out of the country in an official capacity.
The APEC was established in 1989 as a regional economic forum to buttress the growing interdependence of countries in the Asia Pacific. The Philippines joined APEC in November 1989. Since then the organization has already grown to 21 member economies.
“They call members of the APEC ‘economies’ because the discussions in this forum are predominantly about economy and trade relations.
We do hope and pray that President Marcos Jr. will be able to bring home more investments that will help our economy and our people,” Balindong said.
The Philippine economy grew 5.9% during the third quarter of 2023, which is higher than projections from economic experts.
Also, the Philippines posted a total of P1.4 trillion in approved investments since the start of President Marcos Jr.’s administration.
It will be recalled that early on in the President’s term, he went on an investment and trade mission to several countries that netted billions of dollars in investment pledges.
