News Release

PBBM secures $4 billion investment deals, MOUs in Germany, Czech Republic

President Ferdinand R. Marcos Jr. has secured USD 4 billion worth of investment deals and memorandum of understanding (MOU) promoting trade and investment in his working visit to Germany and state visit to Czech Republic as he expressed confidence to have strengthened the bilateral ties with the two central European countries.

In his arrival speech, President Marcos said his meeting with German and Czech business leaders have resulted in a series of investment deals in the renewable energy, manufacturing, innovation and startups, IT-BPM, minerals processing, agriculture, space and aerospace.

“I am glad to announce that my Germany visit resulted in business agreements for projects with an aggregate value of USD 4 billion in the sectors of renewable energy, manufacturing, healthcare, innovation and startups, IT-BPM, minerals processing, agriculture, and aerospace,” President Marcos said.

On top of the business deals, President Marcos said he also had a successful discussion with Lufthansa Technik on its expansion plan in the Philippines, which entails the construction of a second hangar in Clark, amounting USD 150 million, or PhP8 billion.

The President also extended his heartfelt appreciation to Siemens for their unwavering support and confidence in Filipino talent and the company’s commitment to supporting the capacity building of Filipino technical personnel in the field of healthcare.

President Marcos had a successful working visit in Germany upon the invitation of Chancellor Olaf Scholz and a productive state visit in the Czech Republic upon the invitation of President Petr Pavel, and met all four top-ranking Czech officials.

His visit to Germany coincided with the 70th anniversary of diplomatic relations while the Czech Republic coincided with the 50th anniversary of bilateral relations.

President Marcos met Chancellor Scholz in his visit to Berlin where they discussed ways to further strengthen the bilateral cooperation between the Philippines and Germany, particularly on upholding the rule of law, and promoting a rules-based international order as well as enhancing the cooperation in the areas of peace and development, defense cooperation, maritime cooperation, trade and investment including on critical raw materials and renewable energy, climate change, and labor.

“I emphasized the Philippines’ commitment to a clean energy future and invited German investments in green energy initiatives. Chancellor Scholz also remarked on the crucial role of our overseas Filipino workers in Germany,” President Marcos said.

The chief executive highlighted the importance of protecting the rights and welfare of the Filipino people who have contributed much to German economy and society.

The President said his state visit to the Czech Republic, on the other hand, was successful after he received business agreements in pivotal sectors, such as semiconductors and IT-BPM, which underscored a shared commitment to bilateral cooperation, facilitating exchange programs and skill enhancement initiatives.

President Marcos met with President Pavel, Prime Minister Petr Fiala, and the heads of the Czech Parliament, Senate President Miloš Vystrčil and Speaker of the Chamber of Deputies Markéta Pekarová Adamová.

Both Germany and the Czech Republic have also expressed their valuable support for the resumption of the Philippines-EU Free Trade Agreement negotiations.

President Marcos said he authorized Department of Trade and Industry (DTI) Secretary Alfredo Pascual “to make the necessary follow-up on the progress of the FTA discussions at the EU headquarters in Brussels, ” referring to the European Union.

The chief executive also emphasized several agreements were signed during his visit to Germany and the Czech Republic such as the Joint Declaration of Intent on Strengthening Cooperation in the Maritime Sector between Philippine and German transportation agencies, the Cooperation Programme between the Technical Education and Skills Development Authority (TESDA) and the German Federal Institute for Vocational Education and Training, and the Joint Communiqué on the Establishment of Labor Consultations Mechanism between Philippine and Czech labor agencies.

Aside from securing business deals and strengthening the bilateral ties with Germany and the Czech Republic, President Marcos met with the Filipino community in Berlin and Prague where he assured them of the administration’s unwavering commitment to creating more job opportunities in the Philippines and improving the country’s economy.

There are more than 35,000 Filipinos in Germany and around 7,000 in the Czech Republic.
“I reassured our countrymen of this government’s unwavering commitment to creating more job opportunities and improving our economy, ensuring that they can return home to the Philippines, and earn livelihood without having to sacrifice their time with their loved ones,” he said.

“Overall, I am confident that these visits to Germany and the Czech Republic have strengthened our bonds with these two countries in Central Europe and created opportunities for cooperation and prosperity,” the chief executive stressed.

President Marcos and First Lady Louise “Liza” Araneta-Marcos arrived in the Philippines at 3:11 pm along with the Philippine delegation following their successful and productive working visit to Germany and state visit to the Czech Republic. PND