Big investment projects await approval 

Several projects, each worth over P50 billion, are awaiting the approval of President Ferdinand R. Marcos Jr., including one from Korean technology giant Samsung, according to a report by Philippine News Agency.

Special Assistant to the President for Economic and Investment Affairs Secretary Fredrick Go revealed the developments on the sidelines of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy roadshow in Makati City on Friday.

A document obtained from Malacañan Palace showed that the Korean firm is pouring PHP50.65 billion into Samsung Electro-Mechanics Philippines Corp. (SEMPHIL).

The plant in Calamba City, Laguna will produce over 100 billion units of multi-layer chip capacitors for the automotive sector.

It is expected to begin commercial operations by the fourth quarter of 2027 and could generate some 3,000 jobs.

Go explained that large-scale investments require a more meticulous review process, as companies seeking registration often request specific incentives.

"They have their asks, so we have to process those asks," Go said.

He expressed optimism that the Office of the President would finalize the approval process within the first half of the year.