Amidst a challenging economic climate, the Fiscal Incentives Review Board (FIRB) greenlights 25 groundbreaking projects under President Marcos’ administration, signaling an optimistic surge for the country’s financial future.
MANILA – In a statement released yesterday by Secretary of Finance Carlos Dominguez III, the Fiscal Incentives Review Board (FIRB) has given its approval for 25 large-scale projects, collectively valued at ₱287.9 billion, during President Ferdinand Marcos Jr.’s first year in office.
“These projects demonstrate our commitment to boosting the country’s economic growth and creating job opportunities, even amidst a challenging global financial climate,” Dominguez said. He expressed optimism for the economic outlook under Marcos’s leadership, reflecting on the government’s strategic plan to stimulate growth through focused investments.
The 25 projects cover a broad range of sectors, including infrastructure, energy, technology, and manufacturing, illustrating a comprehensive growth strategy aimed at several key areas of the economy. Details of specific projects have yet to be released to the public, but Dominguez reassured that these ventures are “carefully selected to ensure they align with our overall economic vision.”
Dominguez also recognized the role of the FIRB in ensuring these projects meet stringent fiscal and economic criteria, praising their diligent work. “The FIRB has played a crucial part in reviewing and approving these projects. Their work ensures that these initiatives are financially sound and will significantly contribute to our economic development,” he stated.
The approval of these projects signifies a hopeful turn for the Philippine economy under the administration of President Marcos Jr. As these initiatives begin to take shape, they are expected to generate thousands of job opportunities and stimulate economic growth in regions across the country.
Several industry leaders, including Ramon Lopez, the Secretary of Trade and Industry, greeted the announcement with positive reactions. Lopez welcomed the news, stating, “This is a strong sign of our government’s commitment to promoting a vibrant business environment and strengthening the resilience of our economy.”
The anticipation is palpable as the country gears up to commence these projects. It will be interesting to see how these initiatives shape the nation’s economic landscape in the coming years under Marcos’s presidency.