FDIs projected to increase under Marcos’ term
A rise in foreign direct investments (FDIs) is expected to happen under President Ferdinand “Bongbong” Marcos, Jr.’s leadership, according to Philippine National Oil Co. board member Michael Ted Macapagal.
In a statement, Macapagal said that the “overwhelming victory” of Marcos during the elections could encourage foreign businesses to once again view the Philippines as a secure investment location.
“Foreign investors tend to be cautious as they prioritize finding stability in nations,” he added.
In order to get more FDIs, Macapagal believes that the government needs to market its potential abroad and strengthen its partnership with the private sector.
For his part, Department of Finance (DOF) Secretary Benjamin Diokno said the administration’s economic team can make the country’s gross domestic product grow faster.
“…he (Marcos Jr.) and his economic team ought to be able to get the nation back on track. Under the new administration, I think the economy would grow by 6 to 7 percent annually,” Diokno pointed out.
