Philippines’ Duterte said his China visit to generate 10,000 new jobs

BY APD NEWSApr 13,2018 at 14:09

By APD writer Melo M. Acuna

Manila, April 13 (APD) – Philippine President Rodrigo Duterte arrived early Friday morning in Davao City from China and Hong Kong and delivered some “good news” saying his recent visit would generate some 10,000 jobs for Filipinos.

He said his visit to China generated some US$ 9.8 billion in investments, enough to create thousands of jobs.

 Duterte attends a meeting with the Filipino community in Hong Kong

Duterte attends a meeting with the Filipino community in Hong Kong

“The nine business agreements signed during my visit yielded an estimated value of US$ 9.8 billion in investments and projected to generate more than 10,000 jobs,” President Duterte reported in his arrival speech at Davao International Airport.

Included in the business agreements are exploration opportunities on land reclamation and operation of LNG receiving terminal by Jovo Group Co. Ltd., development of large tourism projects, electronics industry parts by Zhongfa Group, and infrastructure and construction project and thermal poower supply by Haocheng Group.

It was reported China Green Agriculture Group also intends to explore agriculture and tourism opportunities with the Philippines’ Calata Corporation.

Other Chinese companies interested in investing in the Philippines include East-Cloud Biz Travel Ltd., China National Heavy Machinery Corp. for the development of the China – Philippines International Techno-Industrial Zone, Shanghai Shinehigh Biotechnology Ltd. and Zhejang Dongyang Chemical Co., Ltd. for the establishment of a pharmaceutical factory and Sino BMG for the establishment of an aerated concrete block production facility in the country.

“The Chinese government will also provide 500 million Renmenbi (US$ 79.4 milliion) or P 4.1 billion) in grant assistance,” he further said.

President Duterte further said in his bilateral talks with Chinese counterpart President Xi Jinping, they discussed the need to intensity cooperation in trade and investments, tourism, agriculture, defense, science and technology as well as energy.

(ASIA PACIFIC DAILY)

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