Highly Cited: Turkey to Match Chinese PH Investment

The Turkish Embassy in Manila said its country could bring at least $30 billion investment in the Philippines once the Eastern Asian country successfully joined the Association of South East Asian Nations (ASEAN), with the help of the Philippines.

During the ASEAN Summit held in Cambodia last week, President Rodrigo Duterte said, as  2017 ASEAN chairman, he and the Philippines is willing to sponsor Turkey and Mongolia to join ASEAN, despite both countries are not qualified geographically.

The President added that the two countries have been showing interest to join the ASEAN. Turkey particularly, has promised to match Chinese investments once the plan succeeded.

Like Duterte, Turkey’s President Recep Tayyip Erdoğan is also considered a strongman, alongside Russia’s Vladimir Putin.

Turkey’s planned investments include infrastructure, heaviy machinery, manufacturing, telecommunications, and transportation.

China’s investment is estimated to employ more than 300,000 direct employees, and more than 500,000 indirect workers. With Turkey’s additional investment, the National Economic Development Authority (NEDA) estimates that unemployment in the next three years could be lowered by 4%.

Turkey has already invested more than $5 billion on heavy machinery manufacturing since Duterte took office last year. /Ninfa Dumlao/

Disclaimer: Contributed articles does not reflect the view of Okd2.com. This website cannot guarantee the legitimacy of some of the information contributed to us. You may do additional research if you find some information doubtful. No part of this article maybe reproduced without permission from this website.

Facebook Comments
Website is Protected by WordPress Protection from eDarpan.com.