Duterte bags total $144-M business deals from Israel and Jordan visits

Duterte bags total $144-M business deals from Israel and Jordan visits

The Philippine delegation headed by President Rodrigo Roa Duterte was able to secure a total of $143.58M worth of business deals from companies in Jordan and Israel.

Department of Trade and Industry Secretary Ramon Lopez said that the Philippines was able to sign $60.68M worth of deals , including some memorandums of agreement and letters of intent in the Hashemite Kingdom of Jordan.

PRESIDENT Rodrigo R. Duterte and King Abdullah II of Jordan (photo credit to owner)

All of those are expected to yield economic cooperation between both countries in the areas of logistics, mobile-related service solutions, robotics, and information and communications technology.

“This visit is a milestone for both countries, especially in the areas of trade and investments. It is paving the way to attract investments from a non-traditional partner and encourage more businesses from both countries to explore economic opportunities,” Lopez said.

Worth to note is intention of the Nafith International from Jordan, a logisitcs planning and operations provider. Lopez said that the Jordanian firm eyes to relocate its regional office to the Philippines, it will invest some $50M.

Another Jordanina firm, Universal Labs Ltd. also signifies its intention to put up a manufacturing facility for Dead Sea products in the country to be exported in the Asian region.

“We would like to keep the momentum and hype up the interest level of companies to engage and join our growth story. We look forward to this expanded relationship with Jordan that will result in deeper cooperation not only in trade but also on the exchange of best practices on new technologies and business process management,” Lopez said.

Prior to going to Jordan, the Philippine delegation was also able to sign $82.9M worth of business agreements with Israel.

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Report from PNA

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