President Duterte is bringing $24 billion worth of investment and credit facilities from his four-day visit to China, Trade Secretary Ramon Lopez said.
"Iyong bagong number na nabubuo ngayon, in terms of investments and credit facilities opened, $24 billion – $15 billion noon are investments and iyong $9 billion will be in the form of credit facilities," he told reporters in a chance interview in this city.
"Iyong private-to-private, iyon ang $15 billion. And about $4 billion are MOUs [memoranda of understanding] to be signed later today," he said.
Breaking down the $24 billion, $15 billion accounts for company-to-company deals, while $9 billion pertains to loans from credit facilities to be made available to businesses and infrastructure.
Aside from the money, Chinese government announce that it would lift the travel advisory cautioning Chinese tourists traveling to the Philippines.
"Iyong bagong number na nabubuo ngayon, in terms of investments and credit facilities opened, $24 billion – $15 billion noon are investments and iyong $9 billion will be in the form of credit facilities," he told reporters in a chance interview in this city.
"Iyong private-to-private, iyon ang $15 billion. And about $4 billion are MOUs [memoranda of understanding] to be signed later today," he said.
Breaking down the $24 billion, $15 billion accounts for company-to-company deals, while $9 billion pertains to loans from credit facilities to be made available to businesses and infrastructure.
Aside from the money, Chinese government announce that it would lift the travel advisory cautioning Chinese tourists traveling to the Philippines.
This would lead to the increase of Chinese tourist arrivals in the country. "From the current 500,000 tourists, we now expect it easily to double or triple in one year or two years so we will need more hotels, more tourism structures, airports, seaports," said Lopez.
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