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$82.9-million in business deals signed during Duterte's Israel visit

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Dharel Placido, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2018/news/09/05/20180903-duterte-israel-mnib-18.jpg?ext=.jpg"/><figcaption>President Rodrigo Duterte and Israeli Prime Minister Benjamin Netanyahu witness the signing of a memorandum of intent on the collaboration on the promotion of bilateral direct investment between Trade Secretary Ramon Lopez and State of Israel Economy and Industry Minister Eli Cohen following a successful bilateral meeting at the Prime Minister&#x27;s Office in Jerusalem on September 3, 2018. Rey Baniquet, Malacañang Photo</figcaption></figure></div>MANILA - Filipino and Israeli businesses struck 21 business deals worth $82.9 million that could generate 790 jobs during President Rodrigo Duterte&#x27;s historic visit to Israel, a document Malacañang released Tuesday showed.Firms from both sides made several pacts as the President vowed to provide a conducive business climate to potential investors in the Philippines.Filipino and Israeli businessmen signed 3 memoranda of agreement, 11 memoranda of understanding, and 7 letters of intent during a forum with the President in Jerusalem.The three signed agreements are as follows:<ul>	<li>Century Properties Inc. and Globe Invest Ltd. </li></ul>- Collaboration to enter into a Joint Venture Agreement for advanced energy optimization management, advanced agriculture and urban farming, prefabricated housing, water desalination, and other master-planned real estate development projects<ul>	<li>Stone of David Corporation and Gaia Automative Industries </li></ul>- Cooperation on the marketing and promotion of tactical vehicles, including technology transfer<ul>	<li> Stone of David Corporation and MCTECH RF Technologies Ltd. </li></ul>- Cooperation on the development of military and intelligence products and hardware In his speech during his meeting with business leaders in Jerusalem Tuesday, Duterte vowed to provide a conducive investment climate to foreign firms.“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,” he said.“I will husband it --- your project --- whatever it is. There will be no corruption. There will be no harassments, no nothing. It&#x27;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.”The Philippine Center For Entrepreneurship Foundation - Go Negosyo and the Israel-Philippines Chamber of Commerce/Israel Chamber of Commerce of the Philippines also struck an MOU for the establishment of a partnership to jointly develop and undertake programs, projects and advocacy initiatives related to the Mentor Me Program.The Philippine Chamber of Commerce and Industry (PCCI) and the Federation of Israeli Chambers of Commerce, meanwhile, signed an MOU for an exchange of information about commerce, industry market updates, and identification of business and trade opportunities.The Subic Bay Metropolitan Authority and Eilat Port Company also signed an MOU for the promotion of the all-water route between the Port of Subic Bay and Israel’s Eilat Port, particularly exploring the possibilities of developing links between Subic Bay Freeport and the Eilat Port to support trade and investment.Armscor Global Defense Inc and EMTAN Karmiel Ltd signed an MOU for the transfer of knowledge and technology to allow Armscor to build a local facility for the manufacture of weapons in the Philippines, under license from EMTAN.

MANILA - Filipino and Israeli businesses struck 21 business deals worth $82.9 million that could generate 790 jobs during President Rodrigo Duterte's historic visit to Israel, a document Malacañang released Tuesday showed.

MANILA - Filipino and Israeli businesses struck 21 business deals worth $82.9 million that could generate 790 jobs during President Rodrigo Duterte's historic visit to Israel, a document Malacañang released Tuesday showed.

$82.9-million in business deals signed during Duterte's Israel visit

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$82.9-million in business deals signed during Duterte's Israel visit

Dharel Placido,

ABS-CBN News

Published September 05, 2018 01:32 PM PHT

Read More:

Rodrigo Duterte

business

economy

Israel

trade

official visit

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