Nasa $120M halaga ng business deals, pinagtibay sa biyahe ni PBBM sa Saudi Arabia
Nasa $120M halaga ng business deals, pinagtibay sa biyahe ni PBBM sa Saudi Arabia
Category
🗞
NewsTranscript
00:00 President Ferdinand R. Marcos Jr. signed a business deal worth 120 million dollars
00:08 for his visit to Saudi Arabia.
00:10 He also discussed the unpaid salaries of our OFWs
00:17 who lost their jobs and had to close some companies.
00:20 This is the story of Kenneth Paciente.
00:24 Although President Ferdinand R. Marcos Jr.'s visit to Saudi Arabia was a short one,
00:30 he emphasized that it was productive because of the positive results.
00:34 The country's first business commitments were made after the President's business roundtable
00:39 with the business leaders of the KSA,
00:42 where the signed business deals amounted to US$120 million.
00:46 During the Saudi-Philippine business roundtable meeting,
00:50 we witnessed the signing of a memorandum of understanding between EEI Corporation
00:56 and Samsung Engineering NEC Corporation Limited, or SENEC.
01:03 SENEC is a joint venture between Samsung Engineering
01:07 and Al Rushaid Petroleum Investment Corporation.
01:11 Under this agreement, a 500-person capacity training facility
01:17 will be established in the Philippines to upskill Filipino employees
01:22 in various professions in the construction industry.
01:26 The facility aims to train at least 3,000 Filipinos a year
01:30 and more than 15,000 Filipinos in the next five years
01:34 ready for deployment with their newfound skills.
01:38 Aside from this, the business-to-business agreements discussed between the Philippines and Saudi Arabia
01:44 are expected to generate more than US$4.2 billion
01:50 and an additional 220,000 jobs for Filipinos over the next few years.
01:56 Despite his busy schedule, the President and Crown Prince of Kuwait had a short talk.
02:01 The Crown Prince mentioned his enthusiasm for the issues between the Philippines and Kuwait.
02:06 It is important to remember that the Kuwaiti government is also suspending the issue of the working visa of the OFWs
02:11 because of the Philippines' non-compliance with the labor agreement with Kuwait.
02:15 The words that he used were, "Do not listen to them. This comes from small people.
02:20 I do not agree with what they have been doing."
02:22 And in fact, she said, "I do not want...
02:28 There's no reason for you to apologize to us."
02:32 That's what he was asking us to do, to apologize to them.
02:35 And he said, "As a matter of fact, I will apologize to you," said the Crown Prince, "regarding what happened."
02:41 I am telling my colleagues that just for that,
02:45 it was worth it for us to travel because we were able to fix the problem in Kuwait.
02:50 At the bilateral meeting of the Executive Board of Saudi Arabia's Crown Prince Mohammed bin Salman Al Saud,
02:56 they discussed the strengthening of the relationship between Saudi Arabia and the Philippines.
03:00 The Saudis are interested in having more Filipino skilled workers in the KSA.
03:05 But according to the President,
03:07 the system is now on the left because they discussed with the Crown Prince that the Saudis will invest in the Philippines.
03:13 The President encouraged the establishment of food production in the Philippines,
03:18 especially since almost all of the food there is imported.
03:21 That will bring jobs to the Philippines. It will also increase our food supply.
03:25 So these are the kinds of things that we have been talking about.
03:29 They also discussed the unpaid salaries of the 10,000 OFWs
03:33 who lost their jobs in the KSA when their companies were losing their jobs in 2015 and 2016.
03:39 The Saudi government is now processing the back pay of the affected OFWs.
03:44 We are already coming to the point where we are only discussing the details.
03:51 The list of claimants has been cleaned and is now in order.
03:56 We are just waiting for the details to be worked out between the Saudi side.
04:01 The President also encouraged the KSA and other Gulf countries to have a positive view on the Maharlika Investment Fund.
04:07 He just wants to prove that the MIF is now more friendly to potential investors.
04:14 I'm confident that once we get it operationalized,
04:19 once we are able to start talking in detail with not only the investment funds
04:27 but even private corporations and other governments as well.
04:31 That is precisely the role that we have envisioned for the sovereign fund, the Maharlika Fund.
04:39 That is the direction that it has taken.
04:43 Kenneth Paciente, for the people.