DTI chief bares bigger investment picture in President’s foreign trips
Trade Secretary Alfredo Pascual in Japan for the 50th Commemorative Association of Southeast Asian Nations-Japan Friendship and Cooperation Summit. (Jean Mangaluz / INQUIRER.net)
TOKYO, Japan — Trade Secretary Alfredo Pascual on Saturday defended President Ferdinand “Bongbong” Marcos Jr.’s foreign trips and said that more investments arrive beyond what the government discloses to the public.
Pascual was asked about criticisms that Marcos received for his latest trip abroad, this time to Tokyo for the 50th Commemorative Association of Southeast Asian Nations-Japan Friendship and Cooperation Summit.
“Let me also explain one aspect of investment promotion. While at the end of each trip, we announce certain investment leads, in reality, there are more that are happening outside those in our lists,” said Pascual.
Pascual explained that the delegation usually has an economic briefing with potential investors.
“The attendees are those who are interested to hear, but have not made any expression of interest or commitment to invest. A number of them surely, are convinced during the discussion and once they have verified their research, they will come in our list of investment leads,” he said.
According to Pascual, this has happened before for Marcos’ previous trips. He, however, he did not elaborate.
Pascual emphasized that investment pledges are more than just the signing of memorandums of understanding.
“It’s really inviting a broader audience, a broader range of companies to take a look at the Philippines, and decide for themselves how their investments could have a strong potential future in our country,” he said.
