Marcos Successfully Secures Investment Agreements Worth $4.2 Billion W/ Germany
MARCOS – President Ferdinand Marcos Jr. has successfully secured over $4 billion in foreign investments from German companies.
President Ferdinand “Bongbong” Marcos Jr. is currently in Berlin for an official visit aimed at bolstering diplomatic relations between the Philippines and Germany. The PR 001 aircraft, carrying Marcos and the entire Philippine delegation, landed in Berlin at 9:49 p.m. local time (4:49 a.m. Manila time).
During his recent trip to Germany, Marcos successfully secured over $4 billion in foreign investments from German companies to foster collaboration in healthcare, information technology, agriculture, and manufacturing sectors in the Philippines.
These eight investment agreements were unveiled and finalized during the Philippine-German Business Forum, which was hosted by the Department of Trade and Industry at the Berlin Marriott Hotel.
Among these agreements, three were letters of intent from various German companies, two were memoranda of agreement, and three were memoranda of understanding.
Addressing German business leaders, Marcos underscored the crucial role of German businesses in driving economic transformation in the Philippines.
“The part that the private sector plays in our transformation is a central one and it is going to be extremely important in the future. And I believe that this is the case in the now more inter-connected global economy,” he said.
Marcos witnessed the presentation and exchange of eight diverse agreements and letters outlining investments totaling $4 billion or approximately P220 billion for the Philippine economy. These agreements include:
A commitment from a German company for an additional $150,000 investment to transform a partner hospital into a training center, catering to the educational needs of other hospitals and developing a curriculum on imaging technology.
A pledge for an additional $55,000 investment to establish an innovation think tank hub and spoke model aimed at fostering an inclusive innovation ecosystem.
An agreement for a $109 million public-private partnership venture focused on rehabilitating, reclaiming, and cultivating 5,000 hectares of degraded farmland for an organic farming project, contributing to the country’s food security objectives.
An understanding of a $3.5 billion investment in a fully integrated solar cell manufacturing facility, dedicated to processing silicon sand into high-grade silicon ingots for solar cell production.
An agreement for a $71 million investment in a manufacturing facility specializing in modifying automobiles into high-end armor-protected vehicles and producing military-grade armored personnel carriers for the Asian market.
An understanding of a $38.25 million investment in establishing data centers to host a digital insurance platform serving the Philippines and Southeast Asia, aiming to enhance insurance accessibility in the region.
An agreement aimed at expanding potential collaborations in various sectors including mobility solutions, software services, manufacturing, factory automation, logistics, energy, security systems, consumer appliances, and healthcare.
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