The Philippines managed to bag $21-billion investment pledges from the US trip of President Ferdinand Marcos, Jr.
This comes with a renewal of strategic commitments on defense, following his meeting with President Donald Trump, State Secretary Marco Rubio and Defense Secretary Pete Hegseth in his 3-day visit to Washington DC.
State-run Philippine News Agency said that the high-level meeting at the Oval Office “reaffirmed the breadth and depth of the Philippines–US alliance across security, economic, and geopolitical cooperation.”
The PNA quoted Marcos as saying in his arrival speech: “We reaffirmed our mutual commitment to further strengthening our longstanding alliance and growing our economies for the benefit of the people and in pursuit of our national interest.”
The report stated that the US pledged $15 million in new support for private sector development under the Luzon Economic Corridor, and $48 million in additional foreign assistance.
Accompanied by Special Assistant to the President on Investments and Economic Affairs Frederick Go, Marcos also met with top executives in semiconductors, healthcare, and infrastructure, bringing home pledges worth over $21 billion.
The investments, Marcos said, could generate thousands of jobs for Filipinos and help build “economic security and resilience.”
The President emphasized fair and reciprocal trade as a cornerstone of future ties.
“We remain positive about the future of PH-US trade, including investment relations, especially in the context of economic security and fair, balanced, reciprocal trade,” he said.
Marcos said the two countries, allies for more than a hundred years, had reaffirmed commitments under the Mutual Defense Treaty amidst continuing assertiveness of China in the Indo-Pacific region.
Caption:
NEW US IMVESTMENTS. President Marcos’ trip to Washington DC bagged $21 Billion. He met with President Donald Trump, State Secretary Marco Rubio, Defense Secretary Pete Hegseth and Treasury Secretary Scott Bessent. Joining him in getting the pledges was Special Assistant to the President on Investments and Economic Affairs Frederick Go (standing, 2nd from left), PH Ambassador to US Jose Manuel Romualdez and Foreign Affairs Secretary Theresa Lazaro
