Duterte to come home with $24 billion from China

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The president managed to rake in $24 billion of investments from China for the Philippines.

On Friday, it was announced by Trade Secretary Ramon Lopez that the Philippines is set to rake in $24 billion worth of investments and credit facilities from China after the four-day state visit of President Rodrigo Duterte.

"Iyong bagong number na nabubuo ngayon, in terms of investments and credit facilities opened, $24 billion – $15 billion noon are investments and iyong $9 billion will be in the form of credit facilities," the trade secretary told the media during a chance interview.

"Iyong private-to-private, iyon ang $15 billion. And about $4 billion are MOUs [memoranda of understanding] to be signed later today," he added.

Lopez noted that the investments and credit facilities will be allotted for various sectors like agriculture, energy, renewable, tourism, food, manufacturing, telecommunications, and infrastructure.

These would translate into two million jobs in the Philippines. "Estimate lang, roughly two million. Roughly over two million over five years," he said.


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Duterte to come home with $24 billion from China
The president managed to rake in $24 billion of investments from China for the Philippines.
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