The four-day visit to Israel this week by Philippines President Rodrigo Duterte – a first by a leader of the island nation since the two countries established diplomatic ties in 1958 – has resulted in 21 business deals between the two countries.
Between handshakes, signatures, memorandums of understanding, letters of intent and business deals signed between Israeli and Filipino business leaders, the Philippines secured $82.9 million in investments, according to the Palace, The Manila Times reported.
The exchanges Wednesday covered investments in technology, military hardware, transportation and tourism. Earlier in the week, agreements were signed on science, labor, trade and joint oil exploration.
“I know that you are for the return of your investments and if you do not dream of profits, then do not go into business. And that I said they are making profits,” Duterte said.
“So my guarantee really is my word. And if you go there, if you want a comfortable —- maybe beginning, just tell me. I will husband it — your project — whatever it is. There will be no corruption. There will be no harassments, no nothing. It’s an ordinary day-to-day government business that you have to follow. And if you can do that and if you go there, tell me,” he said.
Duterte vowed to provide a conducive investment climate to foreign investors as well.