PNoy brings home $11-billion investment deals from China
Over $11 billion in potential Chinese investment deals for the economy and a Chinese greeting for his Cabinet members were President Benigno Aquino III's "pasalubong" when he returned from a five-day visit to China Saturday night. While Aquino announced the investments in his arrival statement, he greeted his Cabinet "Xie xie nimen (My thanks to you all)." "Applause breaks out after President Aquino bids his Cabinet goodbye and 'Xie xie nimen,'" deputy presidential spokesperson Abigail Valte tweeted. A photo Valte uploaded via her Twitter account showed Aquino meeting with his Cabinet at the Ninoy Aquino International Airport. Cabinet members in the photo included Presidential Communications Operations Office head Herminio Coloma Jr. and Social Welfare Secretary Corazon Soliman. On the other hand, Aquino said his visit resulted in billions of dollars in investments. âTinatayang $3.8 billion ang halaga ng mga halos tiyak na na mga investments, at nasa $7.9 billion naman ang tinatayang halaga ng mga investments mula sa mga korporasyong nagpahiwatig ng matinding interes na mamuhunan sa ating bansa," he added. But he said that while his visit opened the doors to investments, it is up to Filipinos to keep the door open by not engaging in corruption. âWe should not demonstrate a wang-wang mentality that smacks of corruption. We want them to hear only good news about the Philippines. We are trying to set up a country that is ready to compete with and help other countries," he said in Filipino. He also reported that during his visit:
- - Both sides signed agreements covering trade, economy, technical cooperation, tourism, sports, culture and information. - Both sides agreed to make 2012-2013 the Philippine-China Year of Friendly Exchanges seeking to double two-way tourist arrivals to two million by 2016. - Both countries are targeting $60 billion in total two-way trade by 2016. - China agreed to help maintain peace in the West Philippine Sea by helping implement the ASEAN Declaration of Conduct of Parties in the South China Sea.