Pres. Duterte's Trip to India Brings Home $1.25 Billion Worth of Investment Pledges

Department of Trade and Industry (DTI) Secretary Ramon Lopez revealed during an interview with some news media outlets that the President's visit to India will bring home to the Philippines an estimated $1.25 Billion worth of investment pledges.

Sec. Lopez said in a press briefing at the International Media Center in New Delhi, India, that the billions of dollars worth of investment will generate 10,000 jobs in various fields.

The investment pledges were gathered from the different Indian companies in the fields of renewable energy, infrastructure, information technology-business processing management (IT-BPM), and healthcare, among others.

The Philippine delegation to India said that they had a series of meetings with big and major conglomerates in India especially those with special interest in operating in the Philippines and those with intention either to expand or to enter the Philippines in terms of investments.

Presidential spokesperson Harry Roque also revealed that there series of meeting initiated by the DTI in India even before the arrival of Pres. Rody Duterte for the 2018 India-ASEAN (Association of Southeast Asian Nations) Commemorative Summit.

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DTI Secretary Lopez also added that two Memorandum of Understanding (MOUs) were signed between the two countries in the fields of investment and information technology.

Sec. Lopez was quoted as saying "Part of the meetings, we entered into–or they have submitted in total about seven Letters of Intent (LOI) and two MOUs. So we had basically about nine agreements with them on how we can both expand and strengthen our trade and investment relationship," Lopez said.

One of India's leading solar power generation and manufacturing company, Adani Green Energy, expressed plans to expand its operations in the Philippines. The DTI revealed that there is an investment commitment and the jobs to be generated, so the Philippine delegation are now looking for sites for the solar and wind-based power generation to be established by Adani Green Energy.

There are also other multinational companies from India who are now willing to invest in the Philippines particularly under the strong leadership of Philippine Pres. Rody Duterte.

Source: PNA / PCOO

Pres. Duterte's Trip to India Brings Home $1.25 Billion Worth of Investment Pledges Pres. Duterte's Trip to India Brings Home $1.25 Billion Worth of Investment Pledges Reviewed by Phil Newsome on January 26, 2018 Rating: 5
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