Malaysia eyes palm oil imports from Philippines: Trade dept

ABS-CBN News

Posted at Nov 10 2016 01:54 PM

Malaysian investors are considering setting up palm oil plantations in Mindanao and Palawan, Trade Secretary Ramon Lopez said Thursday.

The businessmen initially planned to develop 80,000 hectares but are considering expanding the investment to 300,000 hectares, Lopez said in Kuala Lumpur, where President Rodrigo Duterte is on an official visit.

"Malaysia has $63 million in investments in the Philippines, but with this strengthening of ties, we expect more investments," Lopez said.

Malaysian companies are also interested in infrastructure and energy investments, he said.