04December2021

Philippines Receives US$1.66-B Approved Investments from Malaysia; Encourages Investments in 5 Priority Industries

14 October 2021, Kuala Lumpur – In a virtual event hosted by the Philippine Embassy in Malaysia, the Philippine Trade and Investments Center (PTIC) in Kuala Lumpur and the Philippine Economic Zones Authority (PEZA), the 2021 Philippine Investment Forum was concluded today as part of efforts to promote the Philippines as an ideal investment destination and partner for companies in Malaysia.

The Forum kicked off with the 2nd Philippine Investment Forum for Malaysia, which was attended by potential investors and strategic partners, including government officials, C-level, and other company executives; and private sector representatives from Malaysia and other countries in the region.

 

In his remarks, Philippine Ambassador to Malaysia Charles C. Jose noted that Malaysia is one of the Philippines’ closest trading partners and Malaysian industries have played a vital role in boosting trade and investment between the Philippines and Malaysia.

 

This observation was also shared by Department of Trade and Industry Secretary Ramon Lopez in his message: “In 2020, Malaysia was the 10th top trading partner of the Philippines, at US$ 5.57 billion, with balance of trade in the favor of Malaysia. In terms of investment, Malaysia was the 12th source of approved investments at US$ 12.85 million, registering a growth of 43.90% from the previous year.

 

Despite the pandemic, many companies in Malaysia have signified interest in investing and expanding their businesses in the Philippines. From five (5) major investments from Malaysia alone, IPA-approved investments between 2018 and 2020 is valued at US$ 1.66 billion.

 

Secretary Lopez identified priority sectors of investment specific to Malaysia: (1) manufacturing (semiconductor and electronics, food and beverage); (2) agribusiness (upstream and downstream industries, such as value-added processing and manufacturing of agricultural products); (3) services (high value and value-added services, especially in IT-BPM); (4) infrastructure projects, property development, and construction services; and (5) energy (especially renewable energy).

 

In addition, recognizing Malaysia as a global Halal hub, Halal-specific investments are also encouraged, from food and beverage companies to Islamic banks.

The morning session was followed in the afternoon by PEZA’s “Global Biz with PEZA” during which PEZA Director General Charito B. Plaza discussed investment opportunities for Malaysian businesses in the Philippines’ economic zones and highlighted the role of PEZA as a one-stop shop for investors. At PEZA, “investors can expect no red tape but red carpet treatment”, Director General Plaza assured.

Aside from Ambassador Jose, Malaysian Ambassador to the Philippines Norman bin Muhamad also graced the afternoon event.

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For more information, please contact:

Embassy of the Philippines (Attention: Information Section)

1 Jalan Changkat Kia Peng, Kuala Lumpur 50450 Malaysia

Email: klpe_malaysia@yahoo.com

Tel No. +603 2148 4233

Fax No. +603 2148 3576