President Ferdinand R. Marcos, Jr., accompanied by Speaker Ferdinand Martin G. Romualdez, Trade and Industry Secretary Alfredo Pascual, and Foreign Affairs Secretary Enrique Manalo, joins German business leaders for a photo after his address to the Philippine-German Business Forum Tuesday in Berlin, Germany. President Marcos secured at least $4 billion in investment deals during his working trip to Germany. Photo: Office of the Speaker
SPEAKER Ferdinand Martin G. Romualdez today said Germany’s affirmation of support for the Philippines in protecting its rights in the West Philippine Sea under international law, as well as billions of dollars worth of investment deals, validate the importance of the diplomatic initiatives of President Ferdinand R. Marcos, Jr.
In a joint press conference Tuesday President Marcos and German Chancellor Olaf Scholz underscored the importance of upholding international laws, particularly those that govern international navigation such as the United Nations Convention on the Law of the Sea (UNCLOS).
President Marcos also reiterated during the event that the Philippines remains committed to addressing issues through dialogue and consultation but will continue to firmly defend its sovereignty, its sovereign rights, and jurisdiction, in accordance with international law.”
“In the face of increasing aggressiveness by China, enlisting the support of like-minded allies, such as Germany, is of immense value to our national interest in the West Philippine Sea as it adds more weight to our position that international law, not unilateral actions, should govern the conduct in the area,” said Romualdez, leader of the 300-plus strong House of Representatives.
“We must note that Germany’s support is not singular as it joins other countries that recognize UNCLOS as the binding norm in the West Philippine Sea. As such, this diplomatic victory President Marcos clinched during his three-day working visit to Germany is invaluable to our nation and our people,” he added.
Besides, Romualdez noted that Germany’s statement of reaffirmation of support to the Philippines is backed by concrete actions as it has been providing training for the Armed Forces of the Philippines since 1974, and continues to support the capacity-building of the Philippine Coast Guard.
The two countries have also signed a Joint Declaration of Intent on Strengthening Cooperation in the Maritime Sector between the Philippines and Germany’s transport agencies.
Meanwhile, Romualdez commended President Marcos for his exceptional efforts in securing investment deals worth at least $4 billion during his working visit to Germany.
The investment deals include three letters of intent (LOI) from different German companies, two memoranda of agreement, and three memoranda of understanding (MOU).
“This accomplishment not only reflects President Marcos’s dedication to advancing our nation’s economic growth but also underscores his steadfast commitment to serving the Filipino people,” said Romualdez, who is part of the President’s official delegation to Germany.
He stressed that the infusion of these investments into various sectors of our economy will undoubtedly spur job creation, stimulate innovation, and enhance productivity.
Likewise, he added that these investments will enable us to modernize critical infrastructure, bolster key industries, and address pressing socio-economic challenges, thereby improving the quality of life for all Filipinos.
“With the global economy becoming increasingly interconnected, attracting foreign investments is paramount to driving sustainable development and fostering prosperity in the Philippines. President Marcos’s successful negotiations in Germany signal a vote of confidence from the international community in our country’s economic potential and stability,” said Romualdez.
The investment deals include three letters of intent (LOI) from different German companies, two memoranda of agreement, and three memoranda of understanding (MOU).
The Presidential Communications Office said the first LOI is intended to develop a partner hospital that will become a training center to support the training needs of lower-tier hospitals, while the second LOI concerns the development of an Innovation Think Tank (ITT) hub.
On the other hand, the third LOI covers strategic and digital partnerships in healthcare meant to revolutionize healthcare in the Philippines, ensuring safety, quality, accessibility, and affordability of medical services.
A memorandum of agreement was also sealed between the Philippines and Germany through a Public Private Partnership for the rehabilitation, reclamation, and recultivation of degraded farmlands in the Philippines.
Another MOA signed aims 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.
Three memoranda of understanding were also signed during President Marcos’ working visit including the following: Investment for a fully integrated solar cell manufacturing facility; investment in a manufacturing facility to modify automobiles into high-end versions and manufacture of military-grade armored personnel carriers for the Asian market.
The third MOU seeks the establishment of data centers hosting a digital insurance platform that will serve the Philippines and the ASEAN region.
