According to Trade Secretary Ramon Lopez, President Rodrigo Duterte will be bringing home a total of $1.25 billion worth of investment from Indian companies, that are expected to generate thousands of jobs for Filipinos.
“Sa ngayon, 1.25 billion [dollars]. Tapos, meron pang dadagdag diyan kasi iyong mga ibang kumpanya kahapon, siyam na companies iyon, ayaw pa magbigay ng iba ng amount nila, although sinasabi nila na mag-iinvest sila sa atin,” he said.
“So far sa total natin, 1.25 billion dollars ang investment. Halo-halo ito, renewable energy, wellness, pharmaceuticals, tsaka iyong IT-BPM, iyong mga call centers,” he added.
He added that the investments in the IT-BPM sector alone could generate around 100,000 jobs in a year.
“Doon lang sa call centers na iyon, mga 100,000 jobs sa isang taon na mga bagong trabaho na madadagdag,” he said.
The agreements from top Indian companies are expected to strengthen the Philippines’ economic relationship with the South Asian country.
According to Lopez, the agency received a total of seven letters of intent from firms that expressed interest in investing in the country.
“We had basically about nine agreements with them on how… we can both expand and strengthen our trade and investment relationship,” said Lopez.
“I will tell you that it is emerging to be a substantial commitment on the investment side as well as job generation side,” he added.
The investment pledges came from companies involved in pharmaceutics, information technology, energy, tourism, medical wellness and business processing management.