A total of 11 MOUs has been signed between Philippine and Indonesian companies that would serve to boost trade and economic ties between the two countries, the Department of Trade and Industry (DTI) announced.
DTI said that with the inauguration April 30 of the Davao/General Santos-Bitung roll-on/roll-off service, prospects have improved for increased trade activities in the region and heightened collaboration between Philippine and Indonesian businessmen.
The MOUs signed during the recent Philippines-Indonesia Business Networking session held in Davao City cover the areas of water and wastewater infrastructure facilities, retail trade and distribution, real estate and construction, and manufacturing of original equipment manufacturer products for a pharmaceutical company.
The other MOUs detailed the development of various facilities, which includes establishing a media city to develop media content for Indonesia and the rest of the Association of Southeast Asian Nations (ASEAN), a sports city or complex for general use, and technology corridors to enhance bilateral technology transfers.
Among the companies that signed the MOUs were Manila Water, Inc., a subsidiary of Ayala Corporation that aims to expand its presence in Indonesia; SM Markets, which is partnering with Alfamart in the expansion of over 400 stores in the Philippines; Century Properties; and Liwayway Marketing Corporation.
Robert Kwee, president of Indonesia’s Alfamart Group, a company with 252 outlets in the Philippines, said they hold a bullish outlook for retail trade in the Philippines and would like to participate more in its growing economy.
In addition to business-to-business deals, the Philippine Chamber of Commerce and Industry (PCCI) and the Indonesian Chamber of Commerce renewed their commitment to promote the exchange of more missions or delegations for business and economic advancement.
PCCI also signed a protocol of cooperation with the Philippine Business Club Indonesia, an association of Filipino entrepreneurs and professionals in Indonesia, with the aim to strengthen and expand trade and economic activities between entrepreneurs of the two parties.
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