Philippine President Ferdinand Marcos Jr. has secured about $8.5 billion in investment pledges during his visit to Indonesia, Press Secretary Trixie Cruz-Angeles said.
(Bloomberg) — Philippine President Ferdinand Marcos Jr. has secured about $8.5 billion in investment pledges during his visit to Indonesia, Press Secretary Trixie Cruz-Angeles said.
Among the preliminary agreements signed during the Jakarta business roundtable meeting were $7 billion in infrastructure projects through private-public partnerships, including a four-level expressway, Angeles said in a statement.
A $662-million trade value for the supply of coal and fertilizer was also signed, along with $822 million in investments in textiles, garments, renewable energy, technology and agriculture, the press secretary said. The deals are expected to generate at least 7,000 new jobs, she added.
In a separate video release late Tuesday, Angeles said that Philippine Foreign Affairs chief Enrique Manalo has asked his Indonesian counterpart Retno Marsudi for executive clemency to Mary Jane Veloso, a Filipina in death row in Indonesia on drug charges.
Marcos is in Singapore for the second leg of his first official trip. He will meet Prime Minister Lee Hsien Loong Wednesday, before attending an investors briefing with Philippine cabinet officials.
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