Atin Ito First Filipino Community Newspaper in Ontario
BERLIN, Germany—President Marcos cornered at least $4 billion worth of business agreements during his Working Visit here on Tuesday, March 12 (Germany time).
A total of eight deals including three letters of intent (LOIs), two memoranda of agreement (MOAs), and three memoranda of understanding (MOUs) were signed by the Philippine government and German businesses during the Philippine Business Forum here in Berlin.
In his speech, the President said the Philippines looks forward to fostering strong business ties with Germany as it is the biggest economy in the European Union and it is a global force in technology and innovation.
“I invite esteemed German business leaders to continue to keep in mind the Philippines as a reliable partner that can support your market expansion and operations,” Marcos said.
“We remain steadfast in our commitment to purposeful reforms, evident in key legislative amendments,” he added.
The first LOI is intended to develop a partner hospital that would train and support other lower-tier hospitals. Its facilities include classrooms, scanning rooms, internet connectivity, IT equipment, and OP and administration rooms.
The second LOI is for the development of an Innovation Think Tank hub and spoke model to address the strategic target of an inclusive innovation ecosystem in the Philippines.
The last LOI is for the strategic and digital partnership in healthcare with the Department of Health (DOH) to revolutionize healthcare in the Philippines, and ensure safety, quality, accessibility, and affordability.
The first MOA is a public-private partnership venture that would rehabilitate, reclaim, and recultivate degraded farmlands for organic farming projects that will sustainably produce high-quality, healthy organic food at reasonable prices.
The second MOA seeks to expand potential collaborations in mobility solutions, software services, manufacturing, factory automation, logistics services, energy, security, and safety systems for buildings, consumer appliances, and healthcare.
The first MOU invests in a fully integrated solar cell manufacturing facility in the Philippines.
The second MOU aims to build a manufacturing facility that would modify automobiles into high-end 1-of-1 versions and armor-protected cars. It also seeks to manufacture military-grade armored personnel carriers for the Asian Market.
The last MOU, meanwhile, aims to put up data centers that will host a digital insurance platform that will serve the Philippines and the Southeast Asian region. It intends to provide insurance providers and insurance distribution companies with a fully integrated platform to increase insurance penetration in the country and the region. — Argyll Cyrus Geducos
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