The development is seen to create thousands of jobs for Filipinos in the construction industry and human resource services.
Marcos is in Riyadh for the first Association of Southeast Asian Nations and Gulf Cooperation Council Summit. The $120-million business deal involves the establishment of a “500 percent capacity” training facility for Filipino workers in the fields of masonry, carpentry, electrical, welding, equipment management, warehousing, steel fabrication and other construction-related craft starting 2024.
Marcos said the Philippines’ economic achievements in the past year reflect the sustained efforts of his administration to foster an enabling business environment, cut red tape, lower the cost of doing business and improve competitiveness. “The Philippine economy continues its high growth trajectory. Our economy has sustained its growth momentum, with gross domestic product at 7.6 percent in the last year, the fastest rate of growth recorded by the Philippines since 1976,” the President said.
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