President Ferdinand R. Marcos Jr. has brought into the Philippines not only billions of foreign investments, but also the trust and confidence of the European Union (EU) member countries, according to an official of the Department of Trade and Industry (DTI).
DTI-Board of Investments Undersecretary Ceferino Rodolfo told a press briefing in Malacañang on Tuesday that EU member countries have started to invest in the Philippines noting the decisive policy reforms of the Marcos administration.
“In the past, makikita natin ‘di ba, hindi naman tayo naging darling of EU countries because of some reasons. Pero ngayon nakikita natin that when the President has said, ‘we are open for business’ at saka nakikita naman nila iyong mga policy reforms dito sa Pilipinas, pumapasok na sila,” Rodolfo said.
Among the EU member countries, Rodolfo said Germany has the biggest investment pledges with 80 percent of the US$427 billion foreign investments generated during the foreign trips of President Marcos.
He added that a lot of Germany’s investments are already in the pipeline particularly in the renewable projects.
Rodolfo said that foreign investors are seeing the Philippines as a good investment hub because of the government’s policy-related reforms and the further removal of the foreign equity restriction on renewable energy. | PND