The Department of Trade and Industry (DTI) welcomed two Indonesian companies with investments worth $22 million in agriculture and digital technology.
On Wednesday, DTI reported that it held a solo meeting led by President Ferdinand Marcos Jr. with Indonesian companies that expressed interest in investing in the Philippines during the 43rd ASEAN Summit.
PT Vaksindo Satwa Nusantara (Vaksindo), the leader in veterinary vaccines across Indonesia, intends to collaborate with its Filipino partner Unahco Inc. (Univet Nutrition and Animal Healthcare Co.) on veterinary, especially avian influenza. expressed. vaccine.
Vaksindo said he will inject $2 million first this year.
Indonesia’s first Metaverse company, PT WIR Asia Tbk, has also expressed interest in investing $20 million over the next five years to develop VR (virtual reality) and AR (augmented reality) technology integrated with artificial intelligence. did.
Meanwhile, telecom company PT Pasifik Satelit Nusantara said it plans to launch a satellite in December 2023 to boost broadband technology and connectivity for the Philippines.
For Trade and Industry Minister Alfredo Pascual, these investments are crucial because the country seeks “technical advancement for Filipino companies.”
“We remain committed to our goal of pursuing technological advancement for Filipino companies, while encouraging investment in agriculture and the digital economy,” Pascual said.