The foreign visits of President Ferdinand Marcos Jr. garnered foreign investments amounting to Php 427 billion.
Of these investments, Germany came out as the leading investor, with the majority of investments going to the renewable energy (RE) sector.
In a report by the Inquirer, Trade Undersecretary Ceferino Rodolfo said that 90% of the investments are for the renewable energy sector.
Foreign investments benefited greatly from the government’s local reforms and preparations, Rodolfo said.
With the policy reforms implemented, such as the 100% foreign ownership for renewable energy projects, European Union (EU) member countries trust the insight of European investors in their confidence in the reforms.
Non-investing countries have begun to explore investing in the Philippines as a result of the rise in foreign capital inflows there.
