The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
Downloads
Buildings in the Makati Central Business District
Economic Updates
Monthly Recap: BSP to outpace the Fed in rate cuts 
DOWNLOAD
economy-ss-9
Economic Updates
Quarterly Economic Growth Release: 5.4% Q12025
DOWNLOAD
investment-ss-3
Economic Updates
Policy rate views: Uncertainty stalls cuts
DOWNLOAD
View all Reports
Metrobank.com.ph Contact Us
Follow us on our platforms.

How may we help you?

TOP SEARCHES
  • Where to put my investments
  • Reports about the pandemic and economy
  • Metrobank
  • Webinars
  • Economy
TRENDING ARTICLES
  • Investing for Beginners: Following your PATH
  • On government debt thresholds: How much is too much?
  • Philippines Stock Market Outlook for 2022
  • No Relief from Deficit Spending Yet

Login

Access Exclusive Content
Login to Wealth Manager
Visit us at metrobank.com.ph Contact Us
Access Exclusive Content Login to Wealth Manager
Search
The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
Downloads
Buildings in the Makati Central Business District
Economic Updates
Monthly Recap: BSP to outpace the Fed in rate cuts 
May 29, 2025 DOWNLOAD
economy-ss-9
Economic Updates
Quarterly Economic Growth Release: 5.4% Q12025
May 8, 2025 DOWNLOAD
investment-ss-3
Economic Updates
Policy rate views: Uncertainty stalls cuts
May 8, 2025 DOWNLOAD
View all Reports
BusinessWorld 3 MIN READ

Marcos secures USD22M in investment pledges from Indonesian companies

September 7, 2023By BusinessWorld
Related Articles
BTr partially awards bonds on hawkish Fed bets June 13, 2024 Coal plant moratorium to stay — DoE April 26, 2024 More easing likely amid weak growth November 11, 2024

Philippine President Ferdinand R. Marcos, Jr. secured USD 22 million (PHP 1.3 billion) in investment pledges from Indonesian companies in the animal health, artificial intelligence (AI) and digital sectors, according to the Presidential Palace.

Mr. Marcos met with top executives of Indonesian companies on the sidelines of the Association of Southeast Asian Nations (ASEAN) Summit in Jakarta.

In a statement, the Palace said PT Vaksindo Satwa Nusantara is planning to invest $2 million as it works with Univet Nutrition and Animal Healthcare Company Philippines (UNAHCO, Inc.) on veterinary vaccines. The company, known as Indonesia’s first animal vaccine maker, is expected to provide the Philippines with an avian influenza vaccine.

Mr. Marcos also met with executives of PT WIR Asia Tbk, described as the first metaverse company in Indonesia. WIR’s subsidiary PT Mata Nilai Republik is planning to invest $20 million in the Philippines in the next five years.

The President also met with executives of satellite company Pasifik Satelit Nusantara (PSN). PSN last year signed a memorandum of understanding (MOU) with WIT Philippines, Inc., which would involve the launch of a satellite by December that would help improve digital connectivity in the country.

Mr. Marcos’ business meetings were led by the Department of Trade and Industry (DTI) through the Philippine Trade and Investment Center-Jakarta.

“The meetings were a follow-up to the President’s state visit to Indonesia, aimed to forge strategic linkages and partnerships between the Philippines and Indonesia in key sectors, such as agriculture, specifically animal vaccine manufacturing, digital technology, and innovation,” the DTI said in a statement.

Separately, the Palace said the Philippine private sector had signed a deal with its Southeast Asian counterparts to improve ties in agriculture and small business development, as the region seeks to promote economic integration.

The memorandum of understanding signed by members of the ASEAN-Business Advisory Council (BAC) aims to jointly conduct studies and mentorship opportunities for potential agriculture, agriculture technology, food security, agri-preneurship business models and value chain development among small, medium, and large farmers, enterprises, and government entities.

The development of trade and investment opportunities in various agricultural commodities including rubber, rice, corn, fruits, vegetables, and other agricultural services is expected under the joint cooperation, the DTI said.

Separate MOUs were signed for each cooperation with Thailand, Brunei, Singapore, Laos, Cambodia, Vietnam, Myanmar, and Indonesia through their respective ASEAN-BAC representatives.

The Philippines was represented by ASEAN-BAC Philippines Chairman Jose Ma. Concepcion III, a member of Mr. Marcos’ Private Sector Advisory Council.

“All member states also agreed to jointly promote effective strategies in addressing climate change and ensure a sustainable agribusiness environment,” the Palace said.

Speaking at the ASEAN-BAC roundtable dialogue, Mr. Marcos said the Philippines seeks to deepen economic ties with ASEAN countries through the Regional Comprehensive Economic Partnership (RCEP).

“It is a catalyst that is seen to bring in even more collaboration amongst ASEAN member states,” he said. “We are positive that RCEP will further deepen economic integration and significantly contribute to the economic growth of the region.”

RCEP, which covers nearly a third of the global population and about 30% of its global gross domestic product, took effect locally on June 2. Participating countries include the members of ASEAN, Australia, China, Japan, New Zealand, and South Korea.

The trade deal is heavily supported by China, whose trade with member countries, according to a May 2022 analysis from China Briefing, accounted for 30.4% of Beijing’s total foreign trade value.

Critics of RCEP have already warned that the trade deal would only make the Philippines heavily reliant on imports from China and prevent the Southeast Asian nation from pursuing trade diversification. — K.A.T. Atienza

This article originally appeared on bworldonline.com

Read More Articles About:
Worldwide News Philippine News Rates & Bonds Equities Economy Investment Tips Fine Living

You are leaving Metrobank Wealth Insights

Please be aware that the external site policies may differ from our website Terms And Conditions and Privacy Policy. The next site will be opened in a new browser window or tab.

Cancel Proceed
Get in Touch

For inquiries, please call our Metrobank Contact Center at (02) 88-700-700 (domestic toll-free 1-800-1888-5775) or send an e-mail to customercare@metrobank.com.ph

Metrobank is regulated by the Bangko Sentral ng Pilipinas
Website: https://www.bsp.gov.ph

Quick Links
The Gist Webinars Wealth Manager Explainers
Markets
Currencies Rates & Bonds Equities Economy
Wealth
Investment Tips Fine Living Retirement
Portfolio Picks
Bonds Stocks
Others
Contact Us Privacy Statement Terms of Use
© 2025 Metrobank. All rights reserved.

Read this content. Log in or sign up.

​If you are an investor with us, log in first to your Metrobank Wealth Manager account. ​

If you are not yet a client, we can help you by clicking the SIGN UP button. ​

Login Sign Up