Five Malaysian companies signed LOIs to invest in the Philippines particularly in the areas of food processing, multi-service digital platforms, logistics, manufacturing, among others, according to Trade Secretary Alfredo E. Pascual. Know more:
$285-M PLEDGES. Department of Trade and Industry Secretary Alfredo Pascual and President Ferdinand R. Marcos Jr. chat on the sidelines of the roundtable meeting with Malaysian businessmen at EQ Kuala Lumpur Hotel on July 27, 2023. The Presidential State Visit from July 25 to 27 generated a total of USD285 million in investment pledges.
Among the five companies, the agency noted, is Malaysian dairy company Farm Fresh Berhad, which expressed its interest to expand in the Philippines through cattle breeding intended for milk production. The Trade department also noted that the dairy company has an ongoing construction of 6,000-square meter dairy processing facility in Pampanga.
However, he underscored that it is important to understand that “investments are typically long-term commitments rather than immediate action.” He added that these often require “careful study, planning, and legal processes before they can materialize.”
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