Duterte witnesses signing of business agreements $12 billion in China

Presidential Spokesperson Salvador Panelo said that during President Rodrigo Duterte’s recent visit to China he witnessed the signing of 19 business agreements worth US$12.165 billion.

The agreements cover a wide range of areas of investments such as in energy, infrastructure that includes tourism related facilities and internet connectivity, agriculture and training of Filipinos sojourning in China.

“The estimated investment value of these agreements is US$12.165 Billion which will generate more than 21,000 jobs for our fellow Filipinos,” Panelo said.

He added that President Duterte gave his assurance to prospective foreign investors of all nationalities that the Philippine government will create an enabling environment that allows their business establishments and investments to prosper.

“President Duterte also had a productive and fruitful separate bilateral meetings with top Chinese leaderships where he affirmed our commitment to friendship and understanding with China. He expressed the country‚Äôs readiness to pursue more high-quality and good-impact projects,” Panelo said.