President Duterte Returns To PH With $9 Billion Worth Of China Deals
President Rodrigo Duterte has returned to the Philippines with $9 billion worth of investment pledges from China.
On Friday early morning (April 13, 2018), President Duterte has finally arrived in Davao City after his four-day state visit in China and Hong Kong.
The president said in his speech that he returned to the country with $9 billion worth of deals from China including land reclamation, energy, agriculture, tourism, pharmaceuticals, and construction.
The billion-dollar worth of investment from China could generate over 10, 000 jobs for Filipino people including the memorandum allowing the employment of Filipino teachers in the English language.
Mr. Duterte also said that the Chinese government gives 500 million renminbi or about P4.1 billion economic assistance to the country.
“We have secured so many billions..and that 500 million renminbi, gratis yan, there’s no contract. It’s P4 billion straight,” Duterte said quoted by ABS-CBN.
The president advised the Congress to use the money for the rehabilitation and provide new equipment for the hospitals in Mindanao.
President Duterte also explained that all the Chinese government wants is cooperation after investing a huge amount in the country.
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