In President Duterte’s visit to the Middle East, he was able to secure a total of 21 business deals which amounts to $925M and could generate 26,000 jobs or more for Filipinos.
$469M, the largest part, came from Saudi Arabia for 7 projects which are focused on the fields of Pharmaceutics, Property Development, Medical Tourism, Ports and Warehouses, Fine Dining chains, Agri-industrial economic zones, and Halal food processing zones.
$250M from Bahrain will be used to boost agricultural yields in Mindanao.
And the $206M from Qatar is for 13 Projects which includes development of ecozones on tourism, information technology (IT), poultry, halal food processing, digital marketing, manufacture & export facility of nanostructured carbon among others.
On top of the $925M is the $1B worth of sovereign investment fund from Qatar which will be used for developmental projects in Mindanao, mostly in agriculture and infrastructure.
Now let’s add up all the investment that was secured by President Duterte and his administration:
$24B from China, $11B from Japan, $1.925B from Middle East amounts to roughly $37B. In pesos that will be P1.8 Trillion.
Sources:
http://www.philstar.com/business/2017/04/17/1690910/dutertes-me-visit-yields-925-m-investments
http://www.bworldonline.com/content.php?section=Nation&title=21-business-deals-cap-duterte&8217s-middle-east-visit&id=143800
http://www.businessmirror.com.ph/qatar-to-pour-1-billion-sovereign-investment-fund-in-mindanao/
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