Duterte boosts PH firms’ expansion bid in Myanmar

ABS-CBN News

Posted at Mar 22 2017 11:43 AM

President Rodrigo Duterte meets with Myanmar President U Htin Kiaw in the Presidential Palace in Nay Pyi Taw, Myanmar on March 20, 2017. King Rodriguez, Presidential Photo

MANILA – President Rodrigo Duterte will help Filipino companies expand in Myanmar to take advantage of opportunities in the formerly reclusive state, a Cabinet official said.

During an official visit to Myanmar earlier this week, Duterte had discussions with Filipino companies including snack food giants Universal Robina and Oishi, cosmetics manufacturer Splash, phone-maker Cherry Mobile, drug-maker Unilab and hybrid rice producer SL Agritech, Trade Secretary Ramon Lopez said.

“We are helping them,” Lopez said in a televised news conference. “We are basically the ones investing in Myanmar at the moment.”

“Definitely, there’s nowhere to go but up in terms of enhancing trade relations with Myanmar,” he said.

Trade between the Philippines and Myanmar amounts to roughly $150 million, he added.