RIYADH, Saudi Arabia – President Ferdinand Marcos Jr. on Thursday said that several agreements worth more than $120 million between Saudi Arabia and the Philippines will benefit more than 15,000 Filipinos soon.

During a roundtable meeting with Saudi business leaders here, Marcos said the agreements represent a significant step in strengthening the cooperation between the two countries.

The agreements were signed during Marcos' first official visit to Saudi Arabia since assuming the Presidency in June 2022. The agreements cover a wide range of professions in the construction industry, including engineering, architecture, and healthcare.

"This meeting happens at such an opportune time as the Philippine economy continues its high growth trajectory," the President said.

"To our current and future business partners, I hope this meeting has served as an excellent platform for building greater and closer partnerships between the Philippines and the Kingdom of Saudi Arabia," he added.

He then thanked to the Saudi Ministry of Investment and the Saudi business leaders for their support and confidence in the Philippines and the Filipino people.

Marcos Jr. assured that the Philippine government is steadfast in its commitment to continuously supporting current and prospective Saudi investors.

He also urged the Saudi business leaders present at the meeting to "further make it happen in the Philippines."

Marcos also thanked the Saudi government for its support to the Philippines. He said the two countries have a long history of friendship and partnership, and he is confident that this relationship will continue to grow in the years to come.

The signing of the agreements is part of the Philippine government's efforts to expand job opportunities for the Filipinos. The government has also been working to improve the working conditions of overseas Filipino workers (OFWs).

In recent years, Saudi Arabia has become one of the most popular destinations for OFWs. There are currently over one million Filipinos living and working in the country.

The President's visit to Saudi Arabia is part of his efforts to strengthen economic ties with the Gulf Cooperation Council (GCC) countries. The Philippines is a member of the ASEAN-GCC Summit, which the Kingdom is currently hosting.