On April 13, President Rodrigo Duterte arrived from his visit to China and Hong Kong, underscoring that his visit would yield 10,000 jobs for Filipinos.Earlier that week, President Duterte was in Hainan, China for his attendance to the Boao Forum for Asia (BFA) Annual Conference as well as his working visit to Hong Kong.
According to President Duterte, his visit to China has yielded an estimated US$9.8-billion in investments, which would generate 10,000 jobs for Filipinos.
“The nine business agreements signed during my visit yielded an estimated value of 9 to 8 billion dollars in investments. These are projected to generate more than 10,000 jobs for our countrymen and women,” he said.
Included in the business agreements signed are the exploration opportunities on land reclamation and development by Shanghai GeoHarbour Group, building and operation of LNG receiving terminal by Jovo Group Co. Ltd, development of large tourism projects, electronics industry parts by Zhongfa Group, and infrastructure and construction project and thermal power supply by Haocheng Group.
Other Chinese companies like East-Cloud Biz Travel Ltd, China National Heavy Machinery Corp., Shanghai Shinehigh Biotechnology Ltd and Zhejang Dongyang Chemical Co. Ltd, and Sino BMG expressed interest in wanting to invest in the Philippines.
The President’s visit likewise forged six new bilateral agreements between the government of the Philippines and the Chinese government — the Memorandum of Understanding (MOU) on the employment of Filipino teachers of English language in China among them, which allows for the employment of 2,000 Filipino English language teachers starting this year and will be valid for two years, subject to renewal, as stated by President Duterte himself.
The Chinese government, reportedly, will also provide 500 million Renminbi in grant assistance.
President Duterte said that the leaders discussed the importance of an “open and innovative Asia for greater global prosperity” at the Boao Forum for Asia held in Hainan, China.
“We strongly emphasized the need for economic cooperation, coordination and collaboration to achieve the development our peoples,” President Duterte said.
The President said that both Philippines and China have committed to sustaining the vigor of the Philippine-China relations. He also added that the Philippines would continue to seek the expansion of areas for mutually beneficial collaboration, consistent with the laws.