PH gets $672-M investment pledges from Marcos’ APEC trip

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Metro Manila (CNN Philippines, November 20) — President Ferdinand Marcos Jr. has reaped investment commitments worth over $672 million from his participation in the 30th Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting last week, according to Malacañang.

In a statement on Monday, the Palace provided a breakdown of the amount of investment pledges secured in the following 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

Also highlighted were the agreements between American and Filipino firms for the healthcare industry, particularly the planned hospital for cancer patients.

READ: PH, US firms ink deals to build first cancer hospital, boost medicine production

A manufacturing facility envisioned to boost the country’s position in the pharmaceutical industry is also in the pipeline, the Palace said.

Marcos is set to arrive home on Monday night after his week-long trip to the US for the APEC. He also visited Hawaii, more than three decades after the EDSA People Power Revolution.