According to Philippines says over RM20.3bil investment deals agreed with Saudi business leaders | The Star, the office of President Ferdinand Marcos Jr. said that a business delegation from the Philippines and Saudi business executives inked investment agreements valued at about US$4.26 billion.
It claimed in a statement that Marcos was present at the agreements' signing on Thursday, which took place on the fringes of a conference of Gulf and South-East Asian countries in Saudi Arabia.
With over a million working in construction, as domestic assistants, nurses, or other jobs, the Gulf state is a popular location for Filipinos seeking employment abroad.
According to the release, Al Rushaid Petroleum Investment Co. and Samsung Engineering of Saudi Arabia and EEI Corp of the Philippines have reached a deal for construction export services valued at $120 million.
According to the statement, Al-Jeer Human Resources Company-ARCO inked a $3.7 billion human resource services contract with the Association of Philippine Licensed Agencies for the Kingdom of Saudi Arabia.
According to Philippines says over RM20.3bil investment deals agreed with Saudi business leaders | The Star, a $191 million agreement for human resource services was also inked by Maharah Human Resources Co. of Saudi Arabia, Staffhouse International Resources of the Philippines, and E-GMP International Corp. of the Philippines.
The meeting between Saudi and Philippine representatives was covered by the Saudi state news agency SPA. According to Philippines says over RM20.3bil investment deals agreed with Saudi business leaders | The Star, the report highlighted the topics of energy, industry, food security, Islamic financial services, and human resources, along with the agreement to supply Saudi Arabia with trained labor.
