The Philippines secured investment pledges amounting to US$60.625 million during President Rodrigo Duterte’s official visit to Jordan.
The investment pledges consist of two memoranda of understanding (MOUs) and seven letters of intent (LOIs), which were signed between private Philippine and Jordanian companies. Worth at least US$60.625 million, the deals are expected to generate at least 432 jobs.
The MOUs were signed between the Philippine Chamber of Commerce and Industry (PCCI) and Jordan Chamber of Commerce (JCC). These aim to promote, strengthen, and expand trade between the two countries.
Meanwhile, the LOIs sought to explore opportunities in the Philippines with regards to mobile-related services and solutions, information technology, mobile development, digital cross-border remittances from Jordan to the Philippines, robotics, cybercrime, artificial intelligence, green energy, and e-Education among others.
Earlier, Jordan also committed to giving the Philippines rifles, mortars, rocket-propelled grenades, and two second-hand Cobra attack helicopters in July next year.
President Duterte expressed his gratitude to Jordan’s monarch King Abdullah II for providing arms that will help boost the defense capabilities of the Philippines.
Meanwhile, King Abdullah II said he is hopeful that he will be able to return to the Philippines and bring private businessmen to see what the country has to offer.
via Manila Bulletin / Argyll Cyrus Geducos