BUSINESS agreements signed during the visit of President Rodrigo R. Duterte to China are expected to generate more than 10,000 jobs for Filipinos.
The President made this announcement when he arrived in Davao City on Friday from his visit to China and Hong Kong for his participation at the Boao Forum for Asia (BFA) Annual Conference.
According to the Chief Executive, his visit to China has yielded an estimated USD9.8 billion in investments, which would generate 10,000 jobs for Filipinos.
“The nine business agreements signed during my visit yielded an estimated value of 9 to 8 billion dollars in investments. These are projected to generate more than 10,000 jobs for our countrymen and women,” Duterte said in his speech upon his arrival at the Davao International Airport.
Among the business agreements signed are the exploration opportunities on land reclamation and development by the Shanghai GeoHarbour Group; building and operation of an 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 power supply by Haocheng Group.
China Green Agriculture Group also intends to explore agriculture and tourism opportunities in cooperation with the Philippines’ Calata Corp.
Other Chinese companies seeking to invest in the country are East-Cloud Biz Travel Ltd., which aims to venture in the tourism sector; China National Heavy Machinery Corp. for the development of 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 putting up an aerated concrete block production facility in the Philippines.
Duterte’s visit also forged six new bilateral agreements between the Philippine and the Chinese governments, including a memorandum of understanding (MOU) on the employment of Filipino teachers of English language in China.
“This allows for the employment of 2,000 Filipino English language teachers starting this year and will be valid for two years, subject to renewal,” Duterte said.
Among the bilateral agreements signed during the President’s visit to China are the Agreement on Economic and Technical Cooperation between the Government of the Republic of the Philippines and the Government of the People’s Republic of China; the Exchange of Letters on Phase III of the Technical Cooperation Project for the Filipino-Sino Center for Agricultural Technology; the Exchange of Letters for the Pre-Feasibility Study of the Proposed Davao City Expressway Project; the Exchange Letter for Broadcasting Equipment to the Presidential Communications Operations Office; the Memorandum of Understanding on the Employment of Filipino Teachers of English Language in China; and the Preferential Buyer’s Credit Loan Agreement on the Chico River Pump Irrigation Project.
During the Boao Forum for Asia held in Hainan, China, Duterte said leaders recognized Asia as a critical global growth engine.
The President, in his bilateral meeting with Chinese President Xi Jinping, also said that both countries have committed to sustain Philippine-Chinese relations.
“We both underscored the need to further intensify cooperation in trade and investments, tourism, agriculture, defense, science and technology, and energy, among others,” he said.
Meanwhile, in his working visit to Hong Kong, Duterte met with overseas Filipino workers (OFWs) there to report the developments that happened in the country under his Presidency.