PHILIPPINES – GERMANY AGREEMENTS AND INVESTMENT DEALS

President Marcos Jr. and German Chancellor Olaf Scholz have met in Berlin, among the topics discussed by the two officials was the maintenance of peace in South China Sea.

The President Marcos emphasized that Germany supports the Philippines in the matter of a peaceful way to resolve the contested territory in the South China Sea.

Also, the Philippines has secured up to $4 billion or P220 billion worth of investment from Germany following the President’s three-day working visit. Aside from the investment deals, there are also three letters of intent that the Philippines got from various German companies. Plus, two Memorandum of Agreement and three Memorandum of Understanding.

Philippines – Germany tie (Photo courtesy of Yummie Dingding, PPA Pool/ABS CBN News)

Included here is the plan to build a partner hospital that will be a training center for the personnel of small hospitals. As well as the development of Innovation Think Tank, and strategic and digital partnerships in the field of health.

The agreements also include the formation of a public private partnership aimed at rehabilitating degraded farmlands in the Philippines and other innovations. 

In his speech before the Filipino community in Berlin, President Marcos Jr. recognized the contributions of the Overseas Filipino Workers (OFW) in Germany, for their contribution to the government’s efforts because it became easier for the government to get foreign investments. He called them the “bagong bayani ng bagong Pilipinas”.

Source: Joyce Balancio/ABS CBN News

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