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Newly inked PH-China deals to provide 10,800 jobs for Pinoys

President Rodrigo Duterte witnessed on Tuesday, April 10, the signing of $9.5 billion in investments with Chinese businessmen, a move foreseen to provide jobs to 10,800 FIlipinos.

The investment agreements in the agriculture, tourism, real estate, infrastructure, manufacturing, and energy sectors, were signed during the Boao Forum for Asia, a gathering of world leaders, businessmen, and educators.

President Rodrigo Duterte said the agreement seals the growing ties between the country and China.

“Allow me to say that the growing trade and investments reflect the vigorous momentum of the Philippines-China relations and highlighting the Chinese position as our largest trading partner and our largest export market together with Hong Kong,” he said.

The President added that the business investments will provide thousands of jobs for Filipinos in the country.

“I acknowledge the job opportunities that will be created by Chinese investments now and in the years to come and their role in promoting inclusive growth and encouraging entrepreneurship among Filipinos,” he said.

Department of Trade and Industry (DTI) Undersecretary Rowel Barba signed the letter of intent on behalf of the country. Among the companies who signed the deal include:

  • Shanghai GeoHarbour Construction Group Ltd.
  • Jovo Group Co. Ltd. Guangdong
  • Zhongfa Group
  • Haocheng Group
  • China Green Agriculture Group
  • East-Cloud Biz Travel Ltd.
  • China National Heavy Machinery Corporation
  • Shanghai Shinehigh Biotechnology Ltd. Co. and Zheijiang Dongyang Jinxin Chemical Co. Ltd.
  • Sino BMG

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