$60-M deals signed by Phl, Jordan
AMMAN – Nine business agreements and intent letters that are expected to generate more than $60 million in investments were signed during President Duterte’s visit here.
The investments from the private deals and letters of intent can create 432 jobs, Trade Secretary Ramon Lopez said.
Duterte witnessed the signing of the deals during a business forum attended by Filipino and Jordanian investors Thursday.
The letters of intent were submitted by the following firms:
Nafith International, which aims to explore opportunities on logistics planning and operations and locate its regional office in the Philippines. The project costs $50 million and is expected to generate 250 jobs in two years;
Universal Labs Ltd., which is planning to explore opportunities in manufacturing and set up a production facility for Dead Sea products for export. The company may invest $5 million in the project, which is seen to create 70 jobs by 2020;
Arabia Cell, which is eyeing opportunities in mobile-related services and solutions, information technology, software and mobile development. Arabia Cell is planning to invest $2.4 million for the project, which is expected to create 22 jobs in two years;
Dinarak, which is planning to invest $2 million on digital cross-border remittances from Jordan to the Philippines. The investment is projected to create 25 jobs by 2023;
Reprogene, which is eyeing investments on genomic testing services for hospitals and clinics. The investment costs $200,000 and can create 10 jobs this year;
Mobile Z Nation, which is planning to invest $200,000 in the information and communication technology (ICT) sector related to health care and insurance; and
Galaxy Organization, which is interested in investing on technology, robotics, ICT development, cyber crime, artificial intelligence, green-energy and e-education. The project costs $25,000 and is seen to create 55 jobs next year.
Two memoranda of understanding (MOU) were inked yesterday by the Philippine Chamber of Commerce and Industry and the Jordanian Chamber of Industry.
The first agreement aims to promote, strengthen and expand trade, economic, scientific, technological cooperation and other business relations between the two groups.
The other agreement seeks to establish linkages between businesses and industrial sectors in the two countries to facilitate cooperation and joint ventures.
Economic cooperation
King Abdullah was pleased with Duterte’s bringing of a business delegation here and expressed readiness to strengthen Jordan’s economic relations with the Philippines.
“I am really delighted that there (are) also members of the business delegation here in Jordan because I think the true building of relations between our countries (begins) when people (are) more dependent economically together,” the king said.
“I hope that this is an opportunity for me then to be able to come back to visit your country, not only with our government officials but to bring (the) Jordanian private sector to also look at the tremendous opportunities that your country has to offer,” he added.
Before the bilateral meeting, the Philippines and Jordan also signed five bilateral agreements, including cooperation deals on defense and labor.
The memorandum of understanding on defense cooperation was signed by Secretary Delfin Lorenzana and Jordan’s chairman of the Joint Chiefs of Staff Lt. Gen. Mahmoud Freihat.
National Security Adviser Hermogenes Esperon Jr. said the two countries agreed to enhance defense cooperation through joint training and exchange of information.
The cooperation framework for employment of domestic workers and the MOU on labor cooperation were signed by Secretary Silvestre Bello III and Minister Samir Murad. Officials said the agreement would improve the working conditions of about 40,000 Filipino migrants here.
The MOU between the Jordan Investment Commission and the Board of Investments was inked by Minister of State for Investment Affairs Muhannad Shehadeh and Lopez. The agreement is expected to boost two-way trade between Manila and Amman.
The MOU on political consultations was inked by Secretary Alan Cayetano and Minister Ayman Safadi.
An agreement on seafarers was signed by Philippine Ambassador Akmad Atlah Sakkam and Jordan Maritime Commission director-general Salah Ali Abu Afifeh. The deal involves the recognition of certificates under the terms of the 1978 Standards of Training Certification and Watchkeeping for Seafarers Convention.