Marcos: Trips to Germany, Czech Republic yield $4 billion in investments

FILE PHOTO: President Ferdinand Marcos Jr. says on Saturday, March 16, 2024, that his state visits to Germany and the Czech Republic gained a total of $4 billion in investments. Marcos came home to the Philippines following a five-day trip to the two countries on March 16. INQUIRER FILES

MANILA, Philippines — President Ferdinand Marcos Jr. said his state visits to Germany and the Czech Republic gained a total of $4 billion in investments.

In his arrival speech Saturday, Marcos said the investments cover various fields such as energy, healthcare, innovation, and agriculture.

“I am glad to announce that my Germany visit resulted in business agreements for projects with an aggregate value of USD 4 billion in the sectors of renewable energy, manufacturing, healthcare, innovation and startups, IT-BPM, minerals processing, agriculture, and aerospace,” he said.

READ: Marcos leads PH in exchanging trade deals with Germany worth $4.2B

Marcos mentioned that he had a successful discussion with aviation company Lufthansa Technik, which plans to build a hangar in Clark. The project would cost around P8 billion, or $150 million.

“I emphasized the Philippines’ commitment to a clean energy future and invited German investments in green energy initiatives. Chancellor Scholz also remarked on the crucial role of our overseas Filipino workers in Germany,” he said.

Aside from investments, the Philippines signed separate labor agreements with the two countries during Marcos’ five-day state visits to Germany and the Czech Republic.

According to the Presidential Communications Office, 35,000 Filipinos are in Germany while 7,000 are in the Czech Republic. Marcos with the Filipino community in Berlin and Prague before returning to the Philippines on Saturday, March 16.

“I reassured our countrymen of this government’s unwavering commitment to creating more job opportunities and improving our economy, ensuring that they can return home to the Philippines, and earn livelihood without having to sacrifice their time with their loved ones,” the President said.

Marcos also met with German Chancellor Olaf Scholz and Czech President Petr Pavel during his recent trips.

“Overall, I am confident that these visits to Germany and the Czech Republic have strengthened our bonds with these two countries in Central Europe and created opportunities for cooperation and prosperity,” he added.