MANILA -- The inauguration of the P150B Expanded JG Summit Petrochemical Manufacturing Complex in Batangas is a manifestation of business confidence and that the administration’s investment promotion policies are working, President Ferdinand R. Marcos Jr. said on Friday.

“I thank you for this opportunity to personally validate if the policies that we have instituted to do, in fact, spur investments do work on the ground,” President Marcos said during the inauguration of JG Summit Petrochemical Complex in Barangay Simlong, Batangas City.

“So let me hand the quick analysis. This impressive complex is proof of concept that that idea, that principle, that that concept does, in fact, succeed,” he said.

What JG Summit has built is more than a cutting-edge technology, Marcos said, adding it is a testament to the skills of Filipino workers, a proof of business confidence, an example of manufacturing resurgence, and a realization of the vision of Filipino industrialist John Gokongwei.

The more than PhP150 billion worth complex is an upstream industry that feeds many enterprises and supplies many other manufacturing requirements.

It is directly and indirectly employing 6,200 individuals and a major contributor to an industry that is seen to enrich the economy by PhP215 billion next year.

And being among the lynchpins of Philippines industrialization, it is a vital link in moving up the value chain, and guarantees the supply of a critical production ingredient, Marcos said.

During the inauguration, Marcos said his administration will continue generating jobs, growing the economy, raising revenues, attracting investors, and unleashing opportunities for common prosperity. (PND)