PBBM, U.S. VP Kamala Harris met at the sidelines of APEC Leaders’ Summit; several agreements inked

Transcript

00:00 Aside from further cementing Philippine-U.S. relations by having a bilateral meeting with

00:05 Vice President Kamala Harris during the sidelines of the APEC summit, the president also engaged

00:11 in activities that will boost the country's interests in many fields. The chief executive

00:16 again underscored the importance of maintaining peace and order in the region to create an

00:21 environment conducive to economic growth not only for APEC members but for other nations as well.

00:28 Alan Francisco has the full story.

00:30 President Ferdinand R. Marcos Jr. and United States Vice President Kamala Harris met on the

00:38 sidelines of the APEC summit as confirmed by Malacanang Today. In a statement from the office

00:44 of Vice President Kamala Harris, it was mentioned that her conversation with President Marcos is

00:50 part of strengthening the alliance between the Philippines and the United States. The two

00:55 officials also discussed steps to deepen security ties and expand commercial and economic cooperation.

01:01 According to the statement from Harris' office, emphasis was given to their commitment to uphold

01:07 international rules, including those related to the South China Sea. Aside from the U.S. official,

01:13 President Marcos also spoke at the APEC CEO Summit highlighting the APEC's capability

01:19 to create peace through a robust economic foundation that can prevent any misunderstandings.

01:25 To ensure that our economies develop in a manner that is resilient, sustainable,

01:31 and mitigates negative externalities. These are of paramount importance because we can only be

01:38 as strong as the weakest members of our economies, of our societies. Regardless of how much progress

01:46 we make in these halls, if such does not translate to a better quality of life about resiliency for

01:53 all, we will remain derailed by even the most subtle of shocks and insecurities that are beyond

02:01 our control. President Marcos also mentioned at the Philippine Economic Briefing in front of

02:06 investors the Maharlika Investment Fund, citing 80 potential infrastructure projects the fund could

02:12 finance. In the briefing, he explained why investors should put their money in the country.

02:18 The aspiration is to transform the economy so that we are well positioned to take advantage of new

02:25 technologies of and also to be able to face the challenges such as climate change. Several

02:31 agreements were signed, witnessed by President Marcos, including the launch of the first ever

02:36 satellites for the Philippines to strengthen connectivity in remote areas called Aguila.

02:41 This following the Astranis and Orbitz collaboration deal through the launch of

02:46 microgeo satellites. Two companies will invest in internet satellites, a program that is expected

02:52 to create a $400 million investment in the next eight years. There was also a memorandum of

02:58 agreement signed between the DOSD and an artificial intelligence meteorology company to develop a

03:04 high-resolution weather forecasting system for the country using AI technology. The president also

03:09 witnessed the signing of an agreement to promote quality cancer treatment and care in the country.

03:15 A $20 million venture between a Filipino laboratory and a US-based pharmaceutical company

03:21 to boost local drug production. Miralco and Ultrasafe Nuclear Corporation will collaborate

03:26 on a pre-feasibility study on micro-modular reactors to explore clean and sustainable energy.

03:33 President Marcos assured executives from the Semiconductor Industry Association in the United

03:39 States that the government agencies in the private sector are ready to collaborate with

03:44 the American Association if it plans to invest or expand in the Philippines. We assure you this

03:50 administration's support to keep industrial peace, provide a world-class workforce that is responsive

03:57 to the needs of the industry and enhance business environment that will be conducive to further

04:04 growth. Alan Francisco for the Nation, San Francisco, California.