Top Stories

PH gets USD1.25-B investment deals, pledges from India

Presidential Spokesperson Harry Roque on Thursday said investment pledges and agreements from Indian firms reached a total of USD1.25 billion, which are expected to generate thousands of jobs for Filipinos.

“The truth of the matter is, even before the start of the ASEAN-India [Summit], DTI has already facilitated USD1.250 billion in new investments in the Philippines,” Roque said during an official press briefing at the sidelines of the ASEAN-India Commemorative Summit 2018.

The Department of Trade and Industry (DTI) announced that it has obtained at least nine investment pledges and agreements from top Indian companies, which are expected to strengthen the Philippines’ economic relationship with the South Asian country.

DTI conducted a series of meetings at the sidelines of the summit to discuss investment plans with major Indian conglomerates that intend to either expand or begin their operations in the Philippines.

The investment pledges came from companies involved in pharmaceutics, information technology, energy, tourism, medical wellness and business processing management.

Roque reported that the recently concluded bilateral meeting between President Rodrigo Duterte and Indian Prime Minister Narendra Modi fostered a shared commitment to expanding the two countries’ ties, particularly on business and security.

Related Articles

Back to top button