(Eagle News)–President Bongbong Marcos has secured at least $4 billion worth of investment deals during his working visit to Germany, the Presidential Communications Office said.
According to the PCO, of the eight agreements clinched during the Philippine-Germany Business forum in Berlin, three are letters of intent (LOI) from different German companies, two memoranda of agreement, and three memoranda of understanding (MOU).
The first LOI is aimed at the development of a partner hospital to support the training needs of other lower tier hospitals, the PCO said.
The second, meanwhile, is for the development of an Innovation Think Tank (ITT) hub and “spoke model” to address the strategic target of an inclusive innovation ecosystem in the Philippines.
“The third LOI is for the strategic and digital partnership in healthcare with the Department of Health (DOH) with the goal of revolutionizing healthcare in the Philippines, ensuring safety, quality, accessibility and affordability,” it said.
One memorandum of agreement, meanwhile, was for a Public Private Partnership between the Philippine government and a German company to rehabilitate, reclaim, and recultivate degraded farm lands in the Philippines, while the second MOA aims to expand potential collaborations in mobility solutions, software services, manufacturing, factory automation, logistics services, energy, security, and safety systems for buildings, consumer appliances, and healthcare.
Of the three memoranda of understanding (MOUs), one was aimed at ensuring investments in a fully integrated solar cell manufacturing facility, the PCO said.
The other was for an investment in a manufacturing facility that will modify automobiles into high-end 1 of 1 version and armor protected cars, as well as manufacture military grade armored personnel carriers for the Asian market.
“The last MOU is to put up data centers that will host a digital insurance platform that will serve the Philippines and ASEAN region as the group’s main expansion outside of the European Union,” the PCO added.
After his three-day working visit, President Marcos is slated to proceed to the Czech Republic for a two-day state visit.