President Ferdinand Marcos Jr.’s recent participation in the 30th Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting has proven fruitful for the Philippines, with investment commitments totaling over $672 million. According to a statement from Malacañang, these pledges cover a range of industries:
- Telecommunications: $400 million
- Semiconductor and electronics: $250 million
- Pharmaceutical and healthcare: $20 million
- Artificial intelligence (AI) for weather forecasting: $2 million
- Renewable energy: $0.3 million
Significant among these are agreements between American and Filipino companies in the healthcare sector, including plans for a specialized hospital for cancer patients. Additionally, a manufacturing facility aimed at enhancing the Philippines’ standing in the pharmaceutical industry is in the works. These investments mark a significant step towards bolstering the country’s economic growth and technological advancement