2021 PH Investment Forum Held, 5 Priority Investment Sectors Identified
KUALA LUMPUR 18 October 2021 – The Philippine Embassy in Malaysia, the Philippine Trade and Investments Center (PTIC) in Kuala Lumpur, and the Philippine Economic Zones Authority (PEZA) successfully co-hosted the 2021 Philippine Investment Forum as part of efforts to promote the Philippines as an ideal investment destination and partner for companies in Malaysia on 14 October 2021.
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 two countries.
This observation was also shared by Department of Trade and Industry Secretary Ramon Lopez who stated in his message that in the past year, Malaysia ranked as the Philippines’ 10th top trading partner, and the 12th largest source of approved investments, registering a growth of 43.9 percent from 2019.
Despite the pandemic, several companies in Malaysia have signified interest in investing and expanding their businesses in the Philippines. From five major investments from Malaysia alone, IPA-approved investments between 2018 and 2020 is valued at US$ 1.66 billion.
Secretary Lopez identified five priority sectors of investment specific to Malaysia namely, manufacturing (semiconductor and electronics, food and beverage), agribusiness (upstream and downstream industries), services (high value and value-added services, especially in IT-BPM), infrastructure projects, property development, and construction services, and energy (renewable energy).
In addition, recognizing Malaysia as a global Halal hub, Halal-specific investments were 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. END
For more information, visit https://www.kualalumpurpe.dfa.gov.ph, https://www.philembassykl.org.my or https://www.facebook.com/PHinMalaysia/.