President Ferdinand Marcos, Jr. attended the inauguration of the expanded facility of a manufacturing company in Batangas on January 19, 2024.

The expansion is seen to increase the production of olefin raw materials used commonly in manufacturing food packaging.

The facility of JG Summit Olefins Corporation stands as the country's largest manufacturer of polyolefins.

The development of petrochemicals is seen as a significant boost to Philippine manufacturing, enhancing its global recognition. 

It is important for private and public sectors to collaborate to strengthen the economy, according to the President.

In his message, Marcos emphasized the crucial role of the government's economic team in reducing red tape and fostering an environment that attracts capital.

"The bottom line of their assigned mission is this, to reduce red-tape that chokes industry and innovation and replaces red carpet that ushers in capital," the President said.

"It is my firm belief that [the] government should not be yoked on the back of business, tightly regulating their goals making the ease of doing business for possible investors," he added.

The expansion project is expected to supply to companies in the country and help Filipino engineers and individuals seeking employment in science, technology, and innovation-based industries get jobs.