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Thursday, February 23, 2017
Palace: Duterte spent P277 million for int’l trips, brought back almost $6 billion in investments
Presidential spokesperson said Duterte spent P277 million for int’l trips
However, president was able to garner billions of dollars’ worth of investments
He said package from Japan and China alone to generate at least 350,000 jobs, improve infrastructure
MANILA, Philippines – Presidential spokesperson Ernesto Abella touted President Rodrigo Duterte’s success in bringing at least $5.85 billion in investments from China and Japan; making the expenses he incurred for his international trips worth it.
“The President made a total of seven foreign trips, visiting a total of 12 countries since he took office. These visits incurred about P277 million in expenses which included airfare, charter lease, and others,” GMA News quoted him as saying. “These official trips are part of the President’s obligation to maintain and strengthen diplomatic ties with neighboring countries and has clinched numerous economic investments and commitments amounting to billions of dollars — to billions of pesos and generate thousands of jobs in the following years.”
Abella said Duterte managed to net around $4 billion from China and a potential generation of 100,000 jobs through various agreements.
“The visit to China, however, resulted in more than 20 agreements with an estimated value, total value of $4 billion and will generate over a 100,000 jobs,” he said. “Included in the agreements were a 50-million-Renminbi grant for the provision of drug rehabilitation facilities and another 50-million-Renminbi grant for the supply of law enforcement-related equipment.”
As for Japan, Abella said the president netted $1.85 billion worth of investments, 250,000 job opportunities, and commitments to improve the country’s infrastructure.
“There were also about five government-to-government agreements signed, including the exchange of note and agreements up to $184 million,” he said. “Moreover, 15 pipeline loans were acquired by several national agencies during the visit in Japan, which includes the construction of a subway from North Avenue to Taguig and a high-speed railway from Manila to Clark.”