The $13.5 billion worth of deals signed between the Philippines and China during the state visit of President Rodrigo Duterte will generate some two million jobs, the country’s trade chief said.
“The $13.5 billion investment agreements would translate to an expected two million jobs in the next five years,” Department of Trade and Industry Secretary Ramon Lopez said in a text message.
Lopez, who joined the president in the state visit to China, said the agreements cover investments, financing deals, and Memorandum of Agreements that are being signed between the two parties on Thursday and Friday.
Among the local sectors that will benefit from these deals include manufacturing, agribusiness, trade, finance, tourism, transportation, telecommunication, economic zones and industrial parks, and infrastructure.
The renewed friendship in this part of the world has opened huge opportunities for Philippines’ trade and investments in China and the Asean market of 1.9 billion people across the region, he said.