Beyond remittances, invest in PHL’S growth–pbbm to OFW
PRESIDENT Ferdinand R. Marcos Jr. called on overseas Filipino workers (OFW) to play a bigger role in the country’s economic growth by making local investments.
The chief executive made the appeal during his meeting with the Filipino community at the BRIDEX International Convention Centre, Jerudong in Brunei on Tuesday evening.
“Things are looking up for the economy. Aside from remittances from our OFWS, I also encourage you to someday return, and invest, and set up your own business at home and in the Philippines,” Marcos said.
He noted the economy will continue to grow as the government modernizes the agricultural sector.
“By building infrastructure, improving market linkages of our farmers, our farmlands will yield not only crops, but also opportunities that create ripples of positive effects throughout our nation,” the President said.
Aside from roads and bridges, he said his administration will prioritize establishing efficient means of transportation to improve mobility nationwide and the constructing more power plants, which produce renewable energy.
“Infrastructure will remain a very high priority as it helps drive growth and it helps drive employment,” Marcos said.
Among the priority transportation projects of the Marcos administration is the P170- billion contract to upgrade the Manila International Airport, which was awarded to the consortium led by the San Miguel Corporation (SMC) earlier this year.
The project is expected to be completed in 15 years.
“When you return to the Philippines, we hope to also welcome you to a new and upgraded Manila International Airport...” the President said.
He noted these developments are already attracting more investors in the country.
Citing data from the Department of Trade and Industry ( DTI), he said the government has approved P1.26- trillion worth of investments last year, which he said, shows the growing confidence of investors to the Philippine economy.
“Upon full operations, the [investment] projects are expected to produce 49,030 jobs for Filipinos,” Marcos said.
He hopes Filipinos will also contribute to the inflow of investments.