(nasdaq.com) - MANILA -(Dow Jones)- The Philippine government expects to sign deals amounting to $2 billion worth of investments during President Gloria Arroyo's visit to China later this month, Trade and Industry Secretary Peter Favila said Wednesday.
He said the government is reviewing several proposed investment memoranda of understanding to determine which ones would be signed by Arroyo and her Chinese counterparts.
Favila declined to identify the proposed projects.
"The president told us to shift to hard investments. We don't want to be saddled with a lot of debt. We want solid investments rather than official development assistance," Favila told reporters.
Arroyo's five-day state visit starts April 20.
The president visited China in 2004, a trip that yielded $1.2 billion in combined investment commitments and soft loans. (By Cecilia E. Yap, Dow Jones Newswires; (632) 848-5051; cecilia.yap@ dowjones.com)
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