PBBM BRINGING HOME $4-B INVESTMENT DEALS
PRESIDENT Ferdinand Marcos Jr. has secured US$4 billion or P220 billion worth of investment deals from Germany.
Marcos is on a three-day working visit in Germany.
The investment deals are from eight different types of agreements.
Of the eight agreements, three are letters of intent (LOI) from different German companies, two memoranda of agreement, and three memoranda of understandin.
One of the LOI is intended to develop a partner hospital to become a training center to support the training needs of other lower tier hospitals.
The second LOI is intended for the development of an Innovation Think Tank (ITT) hub and “spoke model” to address the strategic target of an inclusive innovation ecosystem in the Philippines.
The third LOI is for the strategic and digital partnership in healthcare with the Department of Health with the goal of revolutionizing healthcare in the Philippines, ensuring safety, quality, accessibility and affordability.
President Marcos is the first Philippine president to address German business leaders in 10 years.
Meanwhile, a memorandum of agreement was also entered between the Philippine government and a German company through a Public Private Partnership to rehabilitate, reclaim, and re-cultivate degraded farm lands in the Philippines.
The second MOA aims to expand potential collaborations in mobility solutions, software services, manufacturing, factory automation, logistics services, energy, security, and safety systems for buildings, consumer appliances, and healthcare.
Three memoranda of understanding (MOUs) that were also signed during President Marcos’ visit to Germany included the understanding to invest in a fully integrated solar cell manufacturing facility.
