Marcos Secures $2.5B in Canadian Investment Pledges

President Ferdinand Marcos Jr. wrapped up a four-day official visit to Canada with $2.5 billion in investment commitments from major Canadian companies, his office said Saturday.

Marcos met with Prime Minister Mark Carney, government officials, and business leaders in Vancouver, British Columbia. The talks covered security, trade, energy, technology, and investments.

"I am pleased to report on the productive meetings that we have had with Canada's top government officials and key economic players during our stay here in Vancouver," Marcos said in a post-visit statement.

Marcos and Carney agreed to elevate bilateral ties to a strategic partnership. "This move, while reflective of the deep and strong bilateral relations that we have developed with Canada, also catalyzes our next steps towards the new phase of our relations," Marcos said.

Nearly one million Filipinos now live in Canada, Marcos noted.

He tasked Foreign Affairs Secretary Maria Teresa Lazaro to work with Canadian Foreign Minister Anita Anand on a plan of action focusing on joint initiatives for shifting global realities, shared challenges, and future-ready partnerships.

Both countries reaffirmed the strategic importance of the Indo-Pacific region. Marcos thanked Canada for its support for the rules-based international order in the South China Sea, particularly based on UNCLOS and the 2016 Arbitral Award. He expressed hope that Canada would continue to be a leading voice upholding the award as part of international law.

On the economic front, discussions with Canadian companies focused on mining, critical minerals, energy, information technology and business process management (IT-BPM), and the digital economy. Conversations with IT-BPM firms explored establishing AI hubs and learning centers to develop AI skills for the global workforce.

Companies Marcos met included B2Gold Corporation, OceanaGold Corporation, Telus Corporation, and NQX to discuss their investment plans in the Philippines.

"All these business engagements in the sectors of mining, critical minerals, energy, services, and IT-BPM resulted in a combined $2.5 billion in investment from Canadian partners," Marcos said.

The investment commitments reinforced the need to conclude a free trade agreement between the Philippines and Canada, Marcos said. "It is already timely that we presently are negotiating a free trade agreement with Canada, which we hope will further strengthen our economic cooperation once it enters into force."

Marcos welcomed Canada's participation in the Luzon Economic Corridor. Ottawa pledged an initial two million Canadian dollars to support infrastructure, supply chain, and clean energy projects.

Marcos and Carney witnessed the signing of a Joint Declaration of Intent on Energy and Natural Resources Cooperation, aiming to strengthen collaboration on energy security, sustainable economic growth, and resilient supply chains.

The two countries agreed to deepen defense and security cooperation through existing agreements, including the Status of Visiting Forces Agreement and the Mutual Logistics Support Arrangement.

Telus Corporation, one of the companies Marcos met, carries an Alpha Score of 36 out of 100, labeled Mixed, in the Communication Services sector. The company's stock page is available for further analysis.