Metro Manila (CNN Philippines, July 27) — President Ferdinand Marcos Jr. said Thursday that Malaysian businesses committed to invest up to $285 million in the Philippines.
The president announced this during the Philippine Business Forum in Kuala Lumpur, after meeting with different Malaysian companies and business leaders there.
“The investment commitments that we have received thus far are valued at around [$285] million,” he said.
The president also said it is “a good indication that there is a strong interest from Malaysia to invest in the Philippines.”
Farm Fresh Berhad is one of the companies that have shown interest to invest in the country. In a statement, the Palace said the Malaysian dairy company is working with the government for its planned $20-million investment for cattle breeding for milk production.
Marcos also met with executives of Capital A Berhad. The company’s business covers aviation, digital travel, and lifestyle brand.
In another statement, Malacañang said the sectors Malaysian investors are looking at include the food processing industry, multi-service digital platforms, aviation, aviation maintenance support services, logistics, manufacturing, infrastructure, water and wastewater.
Marcos said he is confident that the Philippine delegation’s series of meetings with Malaysian investors would “provide a mutually beneficial outcome for both Malaysia and Philippine companies.”
He said that while Malaysia has been one of the country’s top sources of foreign direct investments, “many opportunities” are now present for the latter to further increase its level of trade.
“At present, Malaysian investments already provide valuable contributions to the Philippines and its economic development, in terms of food security, infrastructure development, job generation for our Filipinos,” he added.
Marcos also assured Malaysian investors that the government would continue extending support not only to potential investors but also to Malaysian businesses in the Philippines.
