Philippines, Saudi ink $4.26 billion investment deals

The development is seen to create thousands of jobs for Filipinos in the construction industry and human resource services.

Marcos is in Riyadh for the first Association of Southeast Asian Nations and Gulf Cooperation Council Summit. The $120-million business deal involves the establishment of a “500 percent capacity” training facility for Filipino workers in the fields of masonry, carpentry, electrical, welding, equipment management, warehousing, steel fabrication and other construction-related craft starting 2024.

Marcos said the Philippines’ economic achievements in the past year reflect the sustained efforts of his administration to foster an enabling business environment, cut red tape, lower the cost of doing business and improve competitiveness. “The Philippine economy continues its high growth trajectory. Our economy has sustained its growth momentum, with gross domestic product at 7.6 percent in the last year, the fastest rate of growth recorded by the Philippines since 1976,” the President said.

3x3 star Mac Tallo has been released by Chooks-to-Go Pilipinas, clearing the path for his likely PBA return and stint with...

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Roundtable Meeting with Saudi Business Leaders Riyadh, Kingdom of Saudi Arabia October 19, 2023Roundtable Meeting with Saudi Business Leaders Riyadh, Kingdom of Saudi Arabia October 19, 2023
Source: TheManilaTimes - 🏆 2. / 92 Read more »

Marcos: Deals with Saudi Arabia worth $120M to benefit thousands of FilipinosThousands of Filipinos are expected to benefit from agreements with Saudi Arabia worth $120 million, according to President Ferdinand Marcos Jr.
Source: CNN Philippines - 🏆 13. / 63 Read more »

Marcos to bring home $120-M deals from Saudi ArabiaIt is important, according to the president, to explore new businesses following a pandemic economy to strengthen trade, telecommunications, energy and even agriculture.
Source: ABSCBNNews - 🏆 5. / 83 Read more »

Marcos secures $4.26B business deals in Saudi Arabia(UPDATE) RIYADH: The Philippines has secured around $4.26 billion worth of investment deals during President Ferdinand Marcos Jr.'s visit to Saudi Arabia that are expected to generate nearly 300,00 jobs for Filipinos up to 2030.
Source: TheManilaTimes - 🏆 2. / 92 Read more »

Marcos in Saudi Arabia: $120M in deals to benefit 15,000 FilipinosThousands of Filipinos will benefit from employment and training opportunities  after the signing of the agreements, Marcos said in Riyadh.
Source: gmanews - 🏆 11. / 68 Read more »

Marcos secures $120M business deals in Saudi ArabiaRIYADH: The Philippines has secured over $120 million worth of business agreements on the first day of President Ferdinand Marcos Jr.'s visit to Saudi Arabia.
Source: TheManilaTimes - 🏆 2. / 92 Read more »