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The Philippines have attained the biggest deal in its History after a slight transition of allegiance from the United States. The elected president of the country, Rodrigo R. Duterte, encouraged the powerful Asian Countries to sign the agreement of business endeavor with regards to financing infrastructures, promoting tourism, trading limitations, labor, and more. The giant Asian Countries have been open to support the Philippines to sustain and further enhance the importance of the economic ties between ASEAN countries.
The Government of the Philippines has raised some issue with the US, the long-term strategic collaborator, as the current president openly announced its “policy separation” and shifted to another ally. The US was indeed shocked and disappointed about the latter statement, however, it is hoping for an open negotiation regarding the matter that will not hinder the Business Process Outsourcing (BPO) and the tourism as well.
Meanwhile, the Chinese Government has been pleased to offer billions of dollar investment that will help the Philippines to recover its economic stability. The said agreement will bring more infrastructures such as railway projects, Power Engineering projects, quality telecom projects, renewable energy sourcing, Agricultural production, and more. The said projects will generate about an estimate of 2 million jobs over the next 5 years of contracts.
In a recent news, the Japanese Government was in support for the latest administration, offering an investment that will create a 200,000 jobs that can be expected a year from now. The project focuses on agriculture, shipbuilding and repair, biomas fuel, renewable energy, and automotive. Japan has been the top investor of the country ever since and has continued to strengthen its tie with the Philippines to envision and sustain its economic growth, as well as stabilizing the business community of foreign ASIAN countries.