Duterte’s SoKor visit yields USD4.9-B in investments

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President Rodrigo R. Duterte’s visit to South Korea has yielded USD4.9-billion worth of investments as part of the growing trade relations between the Philippines and the host country, his spokesman said Tuesday.

“Ang mga nakuha naman natin dito sa trip na ito, isang bilyon na Official Development Assistance (ODA) para sa ating mga infrastructure projects para po sa ating ‘Build, Build’ at 4.9 billion in dollars na mga investment,” Presidential spokesperson Harry Roque said in an interview over DWFM.

The Philippine government also signed five government-to-government (G2G) agreements with South Korea.

1. Memorandum of Understanding on Scientific and Technological Cooperation between the Department of Science and Technology (DOST) of the Philippines and the Ministry of Science and ICT of the Republic of Korea;

2. Memorandum of Understanding between the Department of Trade and Industry (DTI) of the Philippines and the Ministry of Trade, Industry and Energy (MOTIE) on Trade and Economic Cooperation;

3. Memorandum of Understanding for Cooperation on the Expansion of Renewable Energy Deployment between the Department of National Defense (DND) of the Philippines and the Ministry of Trade, Industry and Energy (MOTIE) of Korea;

4. Memorandum of Understanding between the Department of Transportation (DOTr) of the Philippines and the Ministry of Land, Infrastructure and Transport (MOLIT) of Korea Concerning Cooperation in the Field of Transport; and

5. Loan Agreement on the New Cebu International Container Port Project between the Government of Republic of the Philippines and the Export-Import Bank of Korea. PNA

Source: http://www.pna.gov.ph/articles/1037507