German investors seen to create over 50,000 jobs in Phl

MANILA, Philippines - German investments are expected to create 55,500 jobs in the Philippines, President Aquino said yesterday.

Aquino, who was in Germany on the last leg of his four-nation European trip, also signed a social security agreement with Berlin to benefit Filipinos in Germany as well as Germans in the Philippines.

“It will contribute to the equality of treatment and will deliver coverage of social security to each other,” Aquino said.

“We are hoping to have 55,500 jobs,” Aquino said, clarifying that these jobs did not include infrastructure.

Aquino said German officials were satisfied with the way his administration is managing the Philippine economy.

Aquino also cited the European leaders’ voicing their support for the Philippine position on the West Philippine Sea issue, particularly Manila’s adherence to international law in resolving the country’s territorial dispute with China.

Aquino is set to visit the United States next, primarily to address the United Nations Climate Change summit in New York. He will also speak at Harvard University in Boston and will return to the country on Sept. 25.