PRESIDENT Ferdinand “Bongbong” R. Marcos Jr. has secured investment pledges in the billions and commitments from foreign countries to protect millions of overseas Filipino workers (OFWs) in his travels abroad, a senior leader of the House of Representatives said Sunday.

“The President always brings home the bacon. He is our country’s best salesman and principal OFW welfare protection advocate,” Senior Deputy Speaker and Pampanga 3rd District Rep. Aurelio “Dong” Gonzales Jr. said.

He said the President would have obtained more foreign investments if the entry of foreign capital into the country and foreign ownership of domestic businesses were not restricted by the economic provisions of the Constitution.

“I think this is one reason why he has been seriously pushing for the amendment of the restrictive economic provisions. The lifting of foreign equity and ownership limitations will strengthen the investment mission part of his foreign trips,” he said.

He added that the President deserves the support of the entire nation in trying to attract more foreign investments and protecting the country’s interests in meeting foreign leaders and businessmen.

The Chief Executive recently visited Canberra and Melbourne in Australia. He flew to Vietnam in January.

In 2023, the President went to Tokyo, Japan; San Francisco, Los Angeles and Honolulu in the United States; and Riyadh in Saudi Arabia.

In Melbourne, Gonzales said the President secured 12 business agreements covering $1.53 billion (P86 billion) worth of investments in several sectors such as renewable energy, clean technology, recycling solutions, housing, IT infrastructure, medical devices, and digital health services.

The Chief Executive attended the ASEAN-Australia special summit in Melbourne, where he discussed with regional leaders issues of common interest, including those on peace and stability, and trade and investments, he said.

In Canberra, the President signed three agreements on maritime domain, cyber and critical technology, and effective implementation of competition laws and policies.

He also met with Australian business leaders and launched the expansion of the Victoria International Container Terminal, a subsidiary of International Container Terminal Services, Inc., a local company controlled by typhoon Enrique Razon.

In Vietnam in January, the President secured the assurance of VinGroup to invest in electric vehicle battery production in the Philippines and in the e-vehicle industry.

Gonzales said this particular plan of VinGroup, a large Vietnamese business entity, would support the government’s public utility vehicle modernization program, which would benefit a lot of Filipinos in terms of modern and efficient transportation, cleaner air and environment, and job opportunities.

He said the President, during his Vietnam trip, also reaffirmed the country’s commitment for business opportunity exploration, exchange of technology and capacity-building collaboration.

In Tokyo, among other activities, the President was updated by Japanese investors on the commitment of more than P169.7 billion in capital funneled into the Philippine economy, which was expected to generate more than 9,700 new jobs.

The President also witnessed the signing of nine new letters of intent and MOUs valued at P14.5 billion in investments and which are projected to create 15,750 additional jobs.

In his US visit, the nation’s leader sealed investment pledges worth $670 million that have the potential to create thousands of direct and indirect jobs for Filipinos.

He met with leading technology companies and investors from Silicon Valley during his visit to San Francisco, paving the way for technological advancement in the Philippines.

In the pharmaceutical sector, Lloyd Laboratories and DIFGEN Pharmaceuticals have formed a joint venture for the product development and export of pharmaceutical products to the U.S.

The Philippines is emerging as one of the fastest-growing pharmaceutical markets in Southeast Asia, and this joint venture is a significant step towards expanding the country’s local production share, Gonzales said.

In the healthcare sector, AC Health and Varian have embarked on a groundbreaking partnership to improve access to quality cancer care in the Philippines. This Cooperation Agreement is a significant step in the fight against cancer. It reflects the Philippines’ growing potential as a leading healthcare destination in Asia.

In Saudi Arabia, which hosts OFWs estimated to number more than one million, President Marcos called for safeguarding the rights and welfare of Filipino workers, as well as their up-skilling to meet the demands of digital transformation.

The President also explored ways to collaborate with Saudi Arabia in the areas of energy, food security and the enhancement of logistic chains.

He witnessed the signing of an MOU between EEI Corporation and Samsung Engineering NEC Co. Ltd. valued at $120 million, which led to the establishment of a 500-person capacity training facility in the Philippines to up-skill Filipino employees in various professions in the construction industry.

The facility aims to train at least 3,000 Filipinos a year and more than 15,000 Filipinos in the next five years.

Three other business-to-business agreements were discussed among Saudi and Philippine human resource companies for the training and employment of Filipinos across a wide range of industries, including healthcare, hotel and restaurant and catering, maintenance and operations.

These agreements were expected to generate more than $4.2 billion and an additional 220,000 jobs for Filipinos over the next few years.