Duterte bags $185M worth of investments from ASEAN trip, to generate more jobs for Filipinos

  • President Duterte witnessed the signing of investment agreements with Singaporean companies worth a total of $185M during his trip to the ASEAN summit on April 27-28
  • He assured the foreign businessmen that there would be no corruption in his administration
  • His goal was to encourage businesses to flourish in the Philippines to provide more  jobs for the people

Malacañang said on Saturday that during the trip of President Rodrigo Duterte to the 32nd Association of Southeast Asian Nations (ASEAN) leaders’ summit in Singapore, at least $185.7 million worth of trade and investment pledges were made.

Duterte witnessed the signing of investment agreements with Singaporean companies in the fields of manufacturing, urban development, renewable energy, aviation, and economic and trade cooperation.

The Singaporean trade and investment pledges to the Philippines are expected to generate approximately 1,920 jobs for Filipinos, said Malacañang.

In his speech during the signing of the business agreements in the summit, Duterte assured the foreign businessmen that there would be no corruption in his administration.

“For as long as I am there, there will be no corruption in my government… Do not give in to them. All you have to do is to make a call, I said, and I will grant you [a meeting] anytime especially about graft, about workers in government asking for money,” he said.

Duterte also said that businesses in the Philippines would be protected as long as investors pay the right taxes and follow the law.

“You just take care of the laws. There is a set of laws to follow. If it’s followed, then we are okay and we can talk about business,” he said.

“I welcome you. I assure you the protection that you need. No corruption is no corruption. I stake my presidency on this. I will lose the presidency on this. I will lose the honor and the prestige in pursuing that policy of no corruption,” he added.

Duterte said the goal was not to “bleed business”, but to encourage businesses to flourish in the Philippines to provide work for the people.

The President will be giving tasks to the DTI and DOF to come up with measures that would make the process of doing business in the country “simpler and easier.”