Philippines to generate $100-B investment in historic trilateral summit: envoy

2024 April 11

Japanese Prime Minister Fumio Kishida (left); Philippine President Ferdinand R. Marcos Jr. (center); and United States President Joe Biden (right). 

MANILA – The Philippines is poised to generate about USD100 billion in investments in the next five to 10 years as a result of its participation in the historic trilateral summit with the United States (US) and Japan.

Philippine Ambassador to the United States Jose Manuel Romualdez said the investment deals would cover various sectors, including energy and digital infrastructure.

“The figures that I have been hearing at, this may sound a little bit expanded in a way, but we’re talking about a hundred billion in investments in the next five to 10 years,” Romualdez said in a press conference with the Philippine media covering the landmark summit in Washington DC on Wednesday (Thursday, Manila time).

“We have a lot of areas where we are putting ourselves, our economic managers are putting our country into a situation where we’re opening up our economy, especially in energy, which is very important for, and also, of course, digital infrastructure, and infrastructure, physical infrastructure as also one of the other aspects of our economic package that we’d like to offer for potential investors.”

President Ferdinand R. Marcos Jr. is expected to meet with US President Joe Biden and Japanese Prime Minister Fumio Kishida in Washington DC on Thursday (Friday, Manila time).

Marcos is also expected to meet with Biden in a separate bilateral meeting, as well as several businessmen in the US.

Romualdez also said American energy firm Ultra Safe is planning to supply small nuclear power plants in the country.

Meanwhile, White House National Security Communications Advisor John Kirby said US Secretary of Commerce Gina Raimondo would host a discussion with her counterparts from the Philippines and Japan to enhance the trilateral maritime cooperation, trade, and investments of the three countries.

Darryl John Esguerra (PNA)