Kuala Lumpur, Malaysia
July 27, 2023
President Ferdinand R. Marcos Jr. convened with Malaysian business leaders for a roundtable meeting in Kuala Lumpur, Malaysia.
The President held this activity in fulfillment of the Administration’s undertaking to bring in more trade, investments and economic opportunities for the Filipino people. It provided an opportunity to enlighten the Malaysian business community with the major reforms implemented by the national leadership in making the Philippines more conducive for business.
To date, Malaysia is the top 10th trading partner of the Philippines and top 22nd source of approved investments in 2022, aside from ranking top 20 in terms of the number of tourist arrivals in the Philippines in 2023.
During the event, Department of Trade and Industry (DTI) Secretary Alfredo Pascual announced a number of Letters of Intent (LOIs) that signify the Malaysian businesses’ plans of expansion and/or interest to invest in the Philippines. The Secretary said that these LOIs serve as a robust and affirmative indication of the ongoing trust and keen interest of Malaysian businesses in the country.
Secretary Pascual also imparted a few joint undertakings in the form of memoranda of understanding (MOUs) between Philippine companies and entities with their Malaysian counterparts that will spur trade and investment opportunities in agriculture, achieve clean energy sustainability, as well as facilitate regional trade through digital solutions.
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