President Ferdinand R. Marcos Jr. is eyeing to secure more infrastructure and business investments during his trip to Indonesia next week to attend the 43rd Asean Summit, according to the Department of Foreign Affairs (DFA).
DFA Assistant Secretary for Asean Affairs Daniel R. Espiritu disclosed five Philippine infrastructure projects would be promoted for possible investments during the trade and investments forum at the summit.
These projects include airport developments in Zamboanga, Busuanga, Sanga-sanga in Tawi-Tawi, and also in Brookes Point, Palawan.
“Of course, the President will be pitching for more trade and investment with Asean countries as well as external partners,” Espiritu said at a news briefing in Malacañang on Thursday.
The 43rd Asean Summit will be held in Jakarta, Indonesia from September 5 to 7.
Espiritu said the Chief Executive is also scheduled to meet with the Asean Business Advisory Council and other Indonesian firms, which intend to expand their presence in the country.
Among the said firms is WIR Asia, an Indonesian information technology firm, which is planning a P1-billion expansion plan in the country for developing innovations in metaverse and artificial intelligence applications.
Indonesian telecommunication firm, Pasifik Satelit Nusantara, will also meet with the President to discuss updates on its signed letter of intent last year, launching of its satellite in December, and plan to allocate 13.5 gigabytes per second of bandwidth for the Philippines.
Espiritu said Darya-Varia Laboratoria and Vaksindo Satwa Nusantara, pharmaceutical companies based in Indonesian, would also make a presentation to the President regarding their avian influenza vaccines, which will soon be available in the country.
When asked if the President will be presenting the Maharlika Investment Fund (MIF) at the Asean Summit, the DFA official said he still has no information about the matter.
The MIF is the country’s first sovereign investment fund, which aims to draw more investments to finance the government priority infrastructure projects.
Last week, the Bureau of Treasury finally issued the implementing rules and regulations (IRR) for the MIF.
Image credits: AP/Aaron Favila