Malaysia poised to invest more in Philippines: business group

ABS-CBN News

Posted at Apr 26 2019 10:06 AM

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MANILA -- Malaysian businessmen are eyeing more investments in the Philippines, sensing the Duterte government's "very serious commitment" to peace and order and cutting red tape, a business group head said Friday.

Fresh investments are likely in infrastructure, manufacturing, agriculture and information and communications technology, said Malaysia Chamber of Commerce and Industries Philippines president Edward Ling.

Trade between the Southeast Asian neighbors are at an "all-time high" under President Rodrigo Duterte and Prime Minister Mahathir Mohamad, Ling told ANC's Market Edge.

Malaysia's CIMB Bank recently opened a digital-only service in the Philippines. Malaysian builders are also involved in the New Clark City project.

Ling said Malaysian investors also welcome the establishment of a new autonomous region in Mindanao, aimed at ending a decades-long Moro insurgency.