The DTI has asserted that not some investment pledges obtained during the five-day official visit of President Ferdinand Marcos Jr. to Japan “are ready to go.” | GabrielLaluINQ
Pascual cited the deal with TMPC, which aims to bring back the vaunted workhorse Tamaraw FX. He said this is already in the works.
“For example Toyota, right, they presented something. They are saying they are going to introduce the utility vehicle, the old Tamaraw and they have designed it so that they have the flexibility of serving the various Filipino families from simple transport needs to business needs,” he said. “I think that one is progressing well and should be starting. They probably have started the final plans to make the investments,” he added.One of the key criticisms hurled at President Marcos over his foreign trips is that investment pledges do not automatically translate to jobs or income for the country, as these are mere intentions and without a legally-binding contract.
But administration officials and allies have maintained that Marcos received a warm reception in Japan during his official visit, which they believed means there is a high chance that the investment pledges will bear fruit. Even Marcos believed that the effects of the investment pledges he clinched in Japan would be felt in the Philippines very soon.
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