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Philippines, Indonesia strengthen trade and investment relationship

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The Philippines has strengthened its trade and investment relationship with Indonesia through a Philippine Business Roundtable wherein gathering prominent business executives from the Philippines and Indonesia exchanged views and updates on developments that would pave way synergy and exchange of business opportunities for both countries.

Undersecretary Nora Terrado of the DTI-Trade and Investment Promotions Group explained why the Philippines remains the best partner for Indonesia, and why businesses from the latter should consider investing more in the Philippines.

The discussion centered on the trade and investment performance of the Philippines, as Undersecretary Nora Terrado of the DTI-Trade and Investment Promotions Group explained why the Philippines remains the best partner for Indonesia, and why businesses from the latter should consider investing more in the Philippines.

“The Philippines is open for business and it is the best time to partner with the Philippines given the country’s strong macroeconomic fundamentals,” Terrado said during her keynote presentation. The roundtable which was opened by Philippines Ambassador to Indonesia Leehiong T. Wee. He was joined by Philippine Business Club Indonesia (PBCI) Chairman Antonio Capati and Vice Chairman Rodolfo Balmater.

According to the Board of Investments, Indonesia was recorded as the leading source of foreign direct investments in the Philippines at P6.4 billion in the first 10 months of 2018. The country was followed by Malaysia at P2.9 billion, Japan at P2.6 billion, and China at P1 billion. 

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