Duterte’s visit to South Korea to result in P4.9-B investment

Philippine President Rodrigo Duterte’s trip to South Korea is expected to be a fruitful one, as billions of pesos in investments are in the talks between the two countries.

At least four agreements were signed, according to Presidential Spokesperson Harry Roque, who is also part of the Philippine delegation to visit South Korea.

“There were at least four agreements signed, but the cumulative total of investments to be brought home is 4.9 billion (pesos) and overseas development assistance is one billion doubled, which will go and assist the country in infrastructure such as roads and bridges,” he said.

Roque added that South Koreans were keen on investing in infrastructure and telecom. Furthermore, Seoul was also interested in “further cooperation” in science and technology as well as agriculture.

Apart from the P4.9-billion investment, $1 billion was also offered for Official Development Assistance (ODA), which will help in President Duterte’s “Build, Build, Build” infrastructure program.

Additionally, South Korea indicated that they will assist in rehabilitating Marawi as soon as the plans are finalized.

via CNN Philippines