NEWS

INVESTMENTS from Malaysia could accelerate further in the next few months, as construction and engineering firms are here to explore opportunities in the “Build, Build, Build” program.

Siti Azlina Mohd Ali Hanafiah of the Malaysia External Trade Development Corp. (Matrade) said Malaysian firms are keen on helping the Duterte administration finish some of its public infrastructure. “One of the sectors that we are really looking at in the Philippines is construction because of the Build, Build, Build  policy by President Duterte, which Malaysia is very much interested to be part of,” she said on Tuesday.

The Matrade Manila trade commissioner said a mission earlier this month composed of construction and engineering firms “aggressively promoted” their services to the Philippines. They pitched their underground infrastructure works, such as pipe jacking, and building information management offerings to potential Philippine partner firms.

This, in turn, could boost Malaysian investments in the Philippines. According to Matrade, investments from January to June amounted to $69.38 million, nearly sevenfold the $9.39 million recorded for the whole of last year.

On the other hand, Matrade Deputy CEO Sharimahton Mat Saleh said a market immersion mission visiting the country is expected to find partner-firms here. The trade delegation is part of Malaysia’s efforts to expand its trade with fellow Association of Southeast Asian Nations (Asean) economies.

She claimed Malaysia’s intra-Asean trade only made up 22.9 percent of its total trade last year.

“We believe there is a lot more potential that we can explore within Asean member-states. We would like to see this number grow,” Sharimahton argued.

The firms are mostly involved in the generation of power and manufacturing of car parts, industrial lubricants, building construction materials, and food and beverage. According to Sharimahton, these companies have a revenue size of $50 million annually. – Elijah Felice Rosales

Source: Business Mirror