During his visit to Germany, Marcos closed $4.2 billion in investments.

On the second day of his working visit to Germany, Philippine President Ferdinand Marcos Jr. successfully negotiated at least $4 billion in foreign investments from German companies, with the goal of enhancing collaboration in the fields of manufacturing, IT, healthcare, and agriculture.

Marcos highlighted the critical role that German companies have had in reshaping the Philippine economy, adding that the role of the private sector is fundamental and would only grow in the increasingly interconnected global economy.

“The part that the private sector plays in our transformation is a central one and it is going to be extremely important in the future. And I believe that this is the case in the now more inter-connected global economy,” he said.

In an effort to strengthen the Philippine economy, the president has inked eight memoranda of understanding and letters of intent totaling $4 billion, or P 220 billion.

These include an investment of $150,000 from a German company for a partner hospital, an investment of $55,000 for an innovation think tank hub, an organic farming project funded by a $109 million public-private partnership, an investment of $3.5 billion in a solar cell manufacturing facility, an investment of $71 million for armored personnel carriers, an investment of $38.25 million in data centers for a digital insurance platform, and possible partnerships in a variety of industries.

Via Inquirer