THE Department of Foreign Affairs said that the upcoming Presidential Trade and Investment Mission (PITM) from the United States that was hatched by US President Joe Biden to President Ferdinand R. Marcos Jr. during the latter’s official visit to Washington, D.C. last year will definitely be a big boost to the country’s economy.

DFA spokesperson Ma. Teresita Daza said that the trade mission which is scheduled on March 11 and 12 will be led by US Secretary of Commerce Gina Raimondo.

No less than the White House made the announcement over the weekend.

Likewise, Daza noted that the trade mission will most likely spur more capital-intensive investments in the Philippines’ innovation economy, clean energy transition, critical minerals sector and food security.

“The PTIM will be the first of a series of major commercial events between the Philippines and the United States for the year, a testament to the two countries’ resolve to forge broader and deeper public-private partnerships for enduring, inclusive and sustainable growth and development,” she added.

Philippine Ambassador to the US Jose Manuel Romualdez earlier said that Washington had offered its hand to the Mindanao Railway project, which was paused after China did not do anything on the funding requests, plus it carried high loan interest rates.

Earlier, Transportation Secretary Jaime Bautista said that the government is looking for other sources for the P81.7-billion Mindanao Railway Project Phase 1 Tagum-Davao-Digos Segment.