President Duterte to bring home $24 billion of investments and credit facilities from China

The Philippines is expected to bring home $24 Billion or PHP 1-Trillion from his four-day state visit of President Rodrigo Duterte in China.

This was confirmed by Trade Secretary Ramon Lopez on Friday.

“Iyong bagong number na nabubuo ngayon, in terms of investments and credit facilities opened, $24 billion – $15 billion noon are investments and iyong $9 billion will be in the form of credit facilities,” he told reporters in an interview in Beijing.

“Iyong private-to-private, iyon ang $15 billion. And about $4 billion are MOUs[memoranda of understanding] to be signed later today,” he added.

This investment would estimately give two million jobs in the Philippines.

Netizens were happy that President Duterte’s visit gave a positive result.

Source: GMA