PBBM gets Indon investment pledges on agri, health, IT

PBBM gets Indon investment pledges on agri, health, IT

Sep 7, 2023, 1:33 AM
Al Comandao

Al Comandao


JAKARTA, INDONESIA – At the sidelines of the 43rd ASEAN Summit, the Department of Trade and Industry (DTI) organized a series of business meetings led by President Ferdinand Marcos Jr., and DTI Secretary Fred Pascual, particularly from the key sectors of agriculture, digital technology and connectivity.

The three prominent Indonesian companies are: PT Pasifik Satelit Nusantara (PSN), PT Vaksindo Satwa Nusantara and PT WIR Asia Tbk.

During these meetings, Trade Secretary Pascual stressed, “We encourage investments in agriculture and the digital economy as we remain committed to our goal of pursuing technological advancements for Philippine enterprises. As we work on science, technology, and innovation (STI) driven approaches, we look forward to your investments that will strengthen different sectors of our economy.”

The exclusive business meetings, spearheaded by the DTI through the Philippine Trade and Investment Center-Jakarta (PTIC-Jakarta), were also a follow-up to the President’s State Visit to Indonesia. This was aimed at forging strategic linkages and partnerships between the Philippines and Indonesia in key sectors, such as agriculture, specifically animal vaccine manufacturing, digital technology, and innovation.

PT Vaksindo Satwa Nusantra stated that they intend to cooperate with its local partner, Unahco Inc. (Univet Nutrition and Animal Healthcare Company) Philippines on veterinary vaccines and will infuse an initial $2 million this year. They will soon provide the Philippines with an avian influenza vaccine.

Another company that met the President was PT WIR Asia Tbk., whose subsidiary, PT Mata Nilai Republik, offered to invest US$20 million in the next five years. WIR is a publicly listed company that develops augmented reality (AR) technology integrated with virtual reality (VR) and artificial intelligence (AI). It is considered the first Metaverse company in Indonesia.

To enhance the supply of satellites in the Philippines, particularly, broadband technology and connectivity, the Philippine delegation also met with PT Pasifik Satellite Nusantara. The company reported to President Marcos Jr. the progress of their project in the Philippines and the launching of their satellite in December 2023.

Back in 2022 during the State Visit of President Marcos Jr. in Indonesia, the PT Pasifik Satellite Nusantara signed a Memorandum of Understanding (MOU) with a $350 million investment value and an allocation of 13.5 Gbps of bandwidth for the Philippines from a new satellite that PSN is scheduled to launch within the year.

Through this development, the said company also expressed its intentions to develop a bigger market for both the government and consumers in the Philippines.

“Through your committed investments in the country, we see you as our valuable partner in pursuing robust economic growth and expansion. We look forward to our strategic collaboration and partnership in creating a sustainable and innovative future for the region. As our Department continues to work on ensuring high-quality and better-paying jobs for Filipinos, we encourage you to Make It Happen in the Philippines!” Pascual added.

#Marcos #PBBM #InvestmentPledges #Indonesia #Agriculture #Health #IT #OpinYon

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