President Gloria Macapagal-Arroyo’s foreign trips bring benefits for the country. This was the statement disclosed by Malacanang after rumors spread that the President is just wasting money and that no concrete benefits were being derived from the trips.
On jobs generation, a total of US$2.2 billion worth of investments and job opportunities resulted from her trip to South Korea, while US$500 million worth of Overseas Development Assistance (ODA) projects were secured from Japan.
Resulting from the China trip was a US$2 billion property development investment for Fort Bonifacio. Two giant oil firms in the Middle East – Al Kharafi and Qtel – pledged to invest up to US$1 billion.
On infrastructure development, China’s Shiamao Property Holdings Limited is investing US$700 million for a hotel project, while Spain committed 180 million euros for the construction of steel bridges and modular roll on-roll off ports.
The President’s trips also resulted in other benefits like the US$190 million for Filipino war veterans.
These are among the benefits derived from PGMA’s foreign travels. (PIA /DOS)
