Malaysian firms show interest in PH

By Louella D. Desiderio, The Philippine Star

Posted at Mar 06 2014 07:43 AM | Updated as of Mar 06 2014 03:43 PM

MANILA, Philippines - Many Malaysian firms are interested to do business in the Philippines, the Department of Trade and Industry (DTI) said.

“In general, the interest of Malaysian businesses in the Philippines are in palm oil, rubber, infrastructure and tourism,” Trade Secretary Gregory Domingo told reporters yesterday.

Domingo joined President Aquino’s state visit to Malaysia last week.

An investor forum attended by 200 individuals was held during the visit to present business opportunities here.

The trade official said meetings were also held with representatives from Maybank, Genting and AirAsia Berhad.

Domingo said the Philippine government has encouraged Maybank to look at how it could participate in Shariah banking here.

During the meeting with representatives from Genting, he said the Philippine government requested for our country to continue to be part of the stops of the cruises being organized by the firm.

The government likewise asked AirAsia to consider having a direct flight from Davao to Kuala Lumpur.

While the DTI wants to encourage investments here, Domingo said it is in the interest of the government to be given assistance by Malaysian counterparts and firms on Halal accreditation.

Such, would allow more local firms to tap the Halal market.

Halal is the prescribed process of preparation of products according to Islamic law.

“Halal is a big market. The most important thing for us is to have an internationally recognized accreditation body for Halal,” Domingo said.