President secures $4b investment pledges from German businesses

BERLIN—President Marcos secured investment agreements worth at least $4 billion or approximately P220 billion during his three-day working visit to Germany.

“We have secured business deals worth $4 billion in Germany, the EU’s economic powerhouse,” Mr. Marcos said on Wednesday.

“Last year’s significant investments from Germany underscore theirconfidence in us as a key partner in the Asia-Pacific. We eagerly welcome further collaborations in climate action and energy transition,” he added.

The investment deals were firmed up during the Philippine-Germany Business Forum here in Berlin, which was coordinated by the Department of Trade and Industry.

Among the notable agreements were three Letters of Intent (LOIs) from prominent German entities—one that seeks elevate a partner hospital into a training center for lower-tier medical institutions; another on the establishment of an Innovation Think Tank (ITT) hub; and one on digital healthcare collaboration with the Department of Health to ensure safety, quality, accessibility, and affordability.

A memorandum of agreement was also signed between the Philippine government and a distinguished German enterprise through aPublic-Private Partnership deal aimed at the restoration, reclamation,and rejuvenation of 5,000 hectares of depleted farmlands into organic food producing hubs.

Another pivotal MOA aimed to broaden potential collaborations on mobility solutions, software services, manufacturing, factory automation, logistics services, energy solutions, and security and safety systems, among others.

Three memoranda of understanding (MOUs) were likewise signed: investment in a comprehensive solar cell manufacturing facility; a manufacturing enterprise for high-end customized automobiles andarmored personnel carriers for the Asian market; and the establishment of data centers hosting a digital insurance platform.

The President also witnessed the signing of the renewal of the “Cooperation Program” between the Technical Education and Skills Development Authority and the Federal Institute for Vocational Education and Training which aims to upskill and reskill Filipino workers.

During a joint press conference alongside German Chancellor Olaf Scholz, Mr. Marcos underscored the significant contributions of Filipino healthcare workers and other OFWs to Germany’s society and economy.

“Noting Germany’s interest in expanded labor cooperation to includeother Filipino skilled workers and professionals, the Philippines reaffirms our commitment to ensure the protection of the rights and welfare of Filipinos around the world,” President Marcos said.

Germany hosts approximately 35,930 Filipinos, with 82.36 percent possessing permanent or temporary residence status, further solidifying the deep-rooted connections between the two nations.

Meanwhile, Speaker Martin Romualdez commended Mr. Marcos for his exceptional efforts in securing the investment deals.

“This accomplishment not only reflects President Marcos’s dedication to advancing our nation’s economic growth but also underscores his steadfast commitment to serving the Filipino people,” said Romualdez, who is part of the President’s official delegation.

“With the global economy becoming increasingly interconnected, attracting foreign investments is paramount to driving sustainable development and fostering prosperity in the Philippines. President Marcos’s successful negotiations in Germany signal a vote of confidence from the international community in our country’s economic potential and stability,” the Speaker added.

Trade Secretary Alfredo Pascual said the agreements not only signify the confidence that German businesses placed in the Philippines, but “also underscore the alignment of our economic priorities.”

“Spanning key sectors such as healthcare, manufacturing, innovation, agriculture, and renewable energy, these ventures hold promise of shared prosperity and sustainable development,” Pascual said. With Othel Campos and Maricel Cruz

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