MANILA (PNA)–President Rodrigo Duterte and his delegation bagged some USD925 million, or about P46 billion worth of prospective investments during their trip to the Mid-dle East during Holy Week.
According to Trade Secretary Ramon Lopez, these investments are ex-pected to generate some 26,000 jobs.
Here’s the list of poten-tial investments from the recent trip of President Duterte in Saudi Arabia, Bahrain, and Qatar:
– Value: USD469 million
– Number of projects: Seven
– Potential job creation: 16,000 new jobs
– Sectors: Pharmaceu-tical, medical tourism, property development, ports warehouses, agri-industrial economic zone, tourism (upscale-dining chains), and halal food processing
– Value: USD250 million, which is signed between AMA Group Holdings Corp. and Nader & Ebrahim Sons of Hassan Company W.L.L.
– Project: Expanding 10,000 hectares of agricul-tural land in Davao in the next three to five years.
– Potential job creation: 3,500 to 40,000 new jobs in three to five years
– Contribution to ex-ports: Increasing exports of banana, pineapple, monggo (mung bean), and lentils to 560 metric tons per year with value of USD280 million.
– Value: USD206 million
– Number of projects: 13
– Potential job creation: 5,770 new jobs
– Sectors: Retirement village (in Romblon, Cebu, or Davao), information and technology economic zone, medical tourism, poultry, halal food processing, digital marketing, manufac-turing of coco fiber in South Cotabato, manufacturing and export of nanostruc-tured carbon and agro-industrial economic zone in Palawan
On top of these busi-ness-to-business agree-ments, the Philippine dele-gation bagged a USD1.0-billion Investment Protec-tion and Promotion Agree-ment (IPPA) with Qatar.
The IPPA will facilitate the USD1.0 billion sove-reign investment fund from Qatar to developmental projects in Mindanao, par-ticularly in areas of agricul-ture and infrastructure.