PH Embassy Hosts Dialogue with Malaysian Business Group

KUALA LUMPUR 11 October 2021– the Philippine Embassy and the Philippine Trade and Investments Center in Kuala Lumpur hosted a dialogue with the Federation of Malaysian Manufacturers (FMM), and discussed strategies to enhance trade and contacts between Philippine and Malaysian businesses in a virtual conference held on 06 October 2021.

FMM is the largest private sector economic organisation in Malaysia representing over 3,000 manufacturing and industrial service companies of varying sizes. Currently, FMM has 607 member companies with business operations in the Philippines. 

Philippine Ambassador to Malaysia Charles C. Jose welcomed the opportunity to dialogue with the FMM, while affirming the importance of Malaysia as a trade and investment partner of the Philippines. Updates on the Philippine economy and business landscape, investment opportunities (including in Philippine industrial and economic zones), as well as incentives for foreign investors were shared during the event.

Despite the pandemic, there has been sustained interest among Malaysian companies to invest in the Philippines despite the pandemic, with groups exploring PPE manufacturing, industry 4.0, infrastructure, Information Technology-Business Process Management (IT-BPM), and healthcare), among others. 

Ambassador Jose shared that Philippine companies have also explored original equipment manufacturer (OEM) and outsourcing services (e.g., manufacturing, design services), mergers and acquisitions, joint ventures, and partnerships with companies in Malaysia. 

Over the recent years there have been significant business deals between Philippine companies into Malaysian companies, such as the takeover by Ayala Land, Inc. of MCT Berhad, and the opening Filipino fast food chain Jollibee in peninsular Malaysia over the next 10 years, among others. 

Ambassador Jose likewise highlighted that the Philippines’ 45 million young, highly-skilled and educated, dedicated and cost efficient workforce would be beneficial to foreign investors and multinational enterprises. END

For more information, visit https://www.kualalumpurpe.dfa.gov.ph, https://www.philembassykl.org.my or https://www.facebook.com/PHinMalaysia/.