$82.9m worth of investment pledges inked during Duterte’s Israel trip

September 5, 2018

President Rodrigo Duterte had witnessed the signing of 21 business agreements with an estimated value of $82.9 million during his four-day official visit to Israel.

Trade and Industry Secretary Ramon Lopez said three memoranda of agreements, 11 memoranda of understanding, and seven letters of intents were signed between the Filipino and Israeli business groups and companies on Tuesday in Jerusalem.

Once the agreements materialize, he said that some 790 new jobs could be created in the country.

He said that during Duterte's speech at King David Hotel, it was "jampacked" with investors.

The deals that were signed covered energy; automotive; military and intelligence products and hardware; manufacturing; logistics; information technology; tourism; and infrastructure, among others. Celerina Monte/DMS