KUALA LUMPUR, Nov 10 — The Philippines is keen to attract Malaysian investors in an array of sectors such as infrastructure, agribusiness, energy, technology and banking to further boost its economy.
Its Secretary of Trade and Industry Ramon M Lopez said there are also potential projects in the railways industry and palm oil development.
He said the country is also keen to collaborate with Malaysia to develop its Islamic banking, halal industry and tourism, he told reporters after attending a roundtable meeting with the Malaysia-Philippines Business Council here today.
The event is held in conjuction with Philippine President Rodrigo Roa Duterte's two-day official visit to Malaysia.
Minister of International Trade and Industry Datuk Seri Mustapa Mohamed was also present at the meeting.
“The global halal industry is estimated to be worth US$2 trillion to US$3 trillion (RM8.5 trillion to RM12.76 trillion), and in the region alone there are more than 200 million Muslims.
“In halal, we can expand it beyond food and beverages and it can be in the tourism areas. If we can make our tourism halal certified, we can easily attract Muslim tourists,” said Lopez.
Malaysia's investment in the Philippines stands at US$63 million.
Malaysian investors in the island nation include Resorts World Hotel, Shangri-La Hotels and AlloyMTD Group.
Last year, Malaysia-Philippines bilateral trade stood at US$4.36 billion with the former importing US$1.2 billion and exporting US$3.4 billion to the latter. — Bernama
