MANILA — Malaysian companies are keen to participate in the ‘Build, Build, Build’ infrastructure program of the Duterte administration, Malaysian Minister for International Trade and Industry Mustapa Mohamed said Monday.
During the Malaysia Business Forum here, Mustapa said Malaysian firms are seeing the infrastructure development program of the Philippine government as opportunity for them to invest in the country.
“This is a very ambitious program and I’m sure Malaysian companies will be looking for opportunities,” he said.
The Philippine government aims to spend around USD180 billion until 2022 to accelerate development of public infrastructure across the country that will impact the productive capacity of the economy, job generation, business climate, and bring inclusive growth.
Currently, Kuala Lumpur-based AlloyMTD has partnered with the government-owned Bases Conversion and Development Authority (BCDA) for the construction of the National Government Administrative Center (NGAC) that will rise in New Clark City in Central Luzon.
On the sidelines of the event, Mustapa told reporters that there are Malaysian firms keen to participate in the construction of second airport in Manila.
“Some [Malaysian] companies are interested in development of new airport in Manila. I know some are anxiously working for this program,” Mustapa said in an interview.
He added that some 27 Malaysia companies will be visiting here this week for the Worldbex or the Philippine World Building and Construction Exposition.
Aside from opportunities in infrastructure projects, Mustapa said Malaysian companies are seeing the country’s potential in services as well as food and beverages, among others.
Some 25 Malaysian firms, mostly from food and beverage industry, are in Manila for the Malaysia Promotion Program organized by Malaysia External Trade Development Corp.
The Malaysian trade minister cited the big potential for Malaysian firms here with the Philippines’ strong economic growth and 100-million population.
Last year, two-way trade between the Philippines and Malaysia reached USD5.2 billion, making Malaysia as the country’s 10th top trading partner.
Philippine exports to Malaysia increased faster than imports from the neighboring country at 31 percent to USD1.58 billion. Imports from Malaysia grew by 7 percent last year amounting to USD3.62 billion. (Kris Crismundo/PNA)
