Marcos secures $120M business deals in Saudi Arabia

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RIYADH: The Philippines has secured over $120 million worth of business agreements on the first day of President Ferdinand Marcos Jr.'s visit to Saudi Arabia.

The President, who arrived here on Thursday afternoon, met with Saudi business leaders where they signed business deals that are expected to benefit more than 15,000 Filipinos. 'With an estimated value of over $120 million, the agreements that will be signed today are set to benefit more than 15,000 Filipinos in training and employment opportunities across a wide range of professions in the construction industry,' Marcos said during a roundtable meeting with Saudi business leaders.

'Indeed, the Philippines' economic achievements in the past year reflect the sustained efforts of this Administration, supported by the private sector, in fostering an enabling business environment, cutting red tape, lowering the cost of doing business, and improving competitiveness,' he added. The President assured them that the Philippine government 'is steadfast in its commitment to continuously support current and prospective Saudi investors.

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