Marcos’ foreign trips gets $23M worth of IT-BPM investments

MANILA, PHILIPPINES — President Ferdinand “Bongbong” Marcos Jr.’s foreign state visits have reportedly brought US$23 million worth of investments to the country’s information technology business process management (IT-BPM) industry. 

According to the presidential office Malacanang, investment pledges from the president’s foreign endeavors “have begun taking shape.”

The Philippines’ IT-BPM sector gained a lot of interest, with eight projects being approved and half of those being worked out for registration with more than US$23 million worth of investments, according to Lanie Dormiendo, the head of the International Investments Promotion Service of the Board of Investments (BOI). 

Elon Musk’s Starlink is also setting up its low-earth orbit satellite-based internet services in the country, making the Philippines Asia’s first to have this service.

Dormiendo noted that this project resulted from the President’s visit to New York in September last year.