Duterte’s Israel trip yields 21 business deals worth $82.9M
THE Philippines secured $82.9 million in investments following President Rodrigo Duterte’s trip to Israel, according to the Palace.
The deals and intent letters, which were signed between Filipino and Israeli businessmen on Wednesday, cover investments in technology, military hardware, transportation and tourism.
In his speech during the signing of the agreements, Duterte vowed to provide a conducive investment climate to foreign investors.
Israeli President Reuven Rivlin (right) meets with his Philippine counterpart Rodrigo Duterte at the presidential compound in Jerusalem on September 4, 2018. AFP PHOTO
“I know that you are for the return of your investments and if you do not dream of profits, then do not go into business. And that I said they are making profits,” Duterte said.
“So my guarantee really is my word. And if you go there, if you want a comfortable —- maybe beginning, just tell me. I will husband it — your project — whatever it is. There will be no corruption. There will be no harassments, no nothing. It’s an ordinary day-to-day government business that you have to follow. And if you can do that and if you go there, tell me,” he said.
Duterte is in Israel for a historic four-day visit, the first for a Filipino president since the Philippines established diplomatic ties with the Jewish state in 1958.
Earlier, the Philippines and Israel inked four agreements on science, labor, trade, and on joint oil exploration. CATHERINE S. VALENTE
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