President Rodrigo Duterte will bring home billions worth of investment deals from his visit to China as its government and businessmen came to terms with him to support the Philippines in various projects.
The president said this partnership shows the “vigorous momentum of the Philippines-China relations” and “highlights the Chinese position as the Philippines largest trading partner and largest export market together with Hong Kong.”
The business deals which focus on energy, tourism, agriculture, fisheries, infrastructure, and land reclamation reach around $9 billion and include the creation of 10,800 jobs.
“I acknowledge the job opportunities that will be created by Chinese investments now and in the years to come and their role in promoting inclusive growth and encouraging entrepreneurship among Filipinos,” Duterte said.
Moreover, Presidential Spokesperson Harry Roque said the Chinese government vowed to provide 500 million renminbi or P4.1 billion to assist the Philippines.
(DAILY NEWS ROUND UP FOR 04/ 11 /18)