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Repeated efforts behind EU pledges

INVESTMENT commitments generated during President Ferdinand 'Bongbong' Marcos Jr. trip to Brussels this week were the result of initiatives aimed at raising interest in the Philippines, the Board of Investments (BoI) said on Friday.'If you recall, Trade Secretary Fred Pascual ... went to the Netherlands for a business mission on October 25 to Oct. 31, 2022 and that paved the way for most of the meetings that were held [in Brussels] ... with regards to investments,' Trade Undersecretary and BoI managing head Ceferino Rodolfo said in online media conference.Marcos' visit in particular resulted in a P4.7-billion pledge from multinational consumer goods company Unilever, which is planning to build a personal care products facility in General Trias, Cavite.'It will be [a] state-of-the-art facility run by 4th Industrial Revolution technology, and right now this investment has been approved at the [BoI] board level,' Rodolfo said. 'The inauguration for this facility is planned in the first quarter of next year.'In addition to infrastructure and renewable energy firm Acciona, shipbuilder Ocea and market manager Semmaris, which also pledged to invest in the Philippines, the BoI said that hydro power turbine maker Turbulent would also be expanding operations in the country.Turbulent, which already has a pilot project in Mati, Davao Oriental, was said to be looking to deploy technology that 'can generate up to multiple megawatts of power with just a network of turbines, and in the Philippines where we have varying rivers, this can help us a lot.'