President Ferdinand Marcos Jr. managed to secure $8 billion worth of business opportunity partnership from his three-day state visit in Indonesia, said Press Secretary Trixie Cruz-Angeles.
The signed memorandum of understanding (MOU) and letters of intent (LOI) at the Jakarta Business Roundtable Meeting were worth a total of $8.484 billion.
A portion of the said agreement tallied at $822 million will be invested in local produce such as textiles, garments, agrifood; and in modern sectors of wire global technology, satellite gateway, and renewable energy.
While a larger fraction of $7 billion will be allotted for infrastructure of unsolicited private-public partnerships such as the modern C-5 four-level elevated expressway.
An additional $622 million for coal and fertilizer trade value was also agreed upon.
Marcos was quoted as saying in an Indonesian media interview that business leaders from different fields in their country are “very enthusiastic” in conducting business in the Philippines.
Cruz-Angeles added that the current administration forecast at least 7,000 new jobs brought by the deals from the state visit.
After the restrictions set by the pandemic were eased by the government, Marcos invited potential Indonesian investors to venture in the Philippines.
“So sabi ko nagbago na ‘yan. So come to the Philippines. So they all committed naman to… Many of them are already actually involved in the Philippines. So sabi nila palalakihin nila ‘yung kanilang involvement. Gusto nila mag-expand,” the President said.