PH secures $4B investment deals from Germany

The Philippines secured at least US$4 billion (P220 billion) in investment deals from eight business agreements signed during President Ferdinand "Bongbong" Marcos Jr.'s working visit to Germany.

These agreements include three letters of intent (LOI), two memoranda of agreement (MOA), and three memoranda of understanding (MOU).

One LOI aims to develop a partner hospital as a training center for lower-tier hospitals.

Another LOI focuses on establishing an Innovation Think Tank hub to foster an inclusive innovation ecosystem.

A third LOI seeks a strategic and digital partnership in healthcare, involving the Department of Health (DOH), to improve medical services.

A MOA is for a Public-Private Partnership to rehabilitate, reclaim, and recultivate degraded farmlands.

Another MOA expands collaborations in mobility solutions, software services, manufacturing, logistics, energy, and security systems.

A MOU is for investing in a solar cell manufacturing facility, and another MOU for a facility to modify automobiles and manufacture armored personnel carriers.

Additionally, a MOU will establish data centers for a digital insurance platform serving the Philippines and the ASEAN region.