PH secures US$82.9-M investment deals from Israel
JERUSALEM, Israel – Almost US$83 million worth of investment and cooperation deals that would generate around 790 jobs were signed between Philippines and Israeli firms during President Duterte's historic four-day visit to the Holy Land.
In a business forum, 21 deals were signed between Filipino and Israeli private firms in Jerusalem. These include three memoranda of agreement (MOAs), 11 memoranda of understanding (MOUs), and eight letters of intent (LOIs) amounting to US$82.9 million.
Among the deals was a MOA between Century Properties, Inc. and Globe Invest Ltdfor a collaboration to enter into a Joint Venture Agreement for advanced energy optimization management; advanced agriculture and urban farming; prefabricated housing; water desalination; and other master-planned real estate development projects.
A MOA between the Stone of David Corporation and Gaia Automotive Industries Ltd. was also
signed. The MOA is for cooperation on the marketing and promotion of tactical vehicles, including technology transfer.
The last MOA signed was between the Stone of David Corporation and MCTECH RF Technologies Ltd. for cooperation in the development of military and intelligence products and hardware.
MOUs One of the MOUs signed was between Century Pacific Food, Inc. and Kvuzat Yavnefor the distributorship of canned tuna products for the Century brand within Israel and the Palestinian Authority.
The Integrated Computer Systems, Inc. and Verint Systems Ltd. also signed an MOU. It is a Teaming Agreement between the parties to explore mutually beneficial opportunities for collaboration on security, intelligence data mining and information technology.
An MOU between the Philippine Center For Entrepreneurship Foundation-Go Negosyo and Israel-Philippines Chamber of Commerce/Israel Chamber of Commerce of the Philippines was also signed for the establishment of a partnership to jointly develop and undertake programs, projects and advocacy initiatives related to the Mentor Program.
The Philippine Chamber of Commerce and Industry (PCCI) signed an MOU with the Federation of Israeli Chambers of Commerce for the exchange of information about commerce, industry market updates, and identification of business and trade opportunities.
An MOU was also signed between the Philippine Chamber of Commerce and Industry-National Capital Region (PCCI-NCR) and Jerusalem Chamber of Commerce (JCC). The MOU is for the promotion, strengthening, and expansion of trade, economic, scientific, and technological cooperation and other business relations between member organizations of the two parties, including the exchange of information on commerce, manufacturing, pharmaceutical/ health and wellness, real estate/construction, ICT, and renewable energy.
Subic Bay Metropolitan Authority (SBMA) signed an MOU with the Eilat Port Company Ltd. for the promotion of the all-water route between the Port of Subic Bay and the Eilat Port, particularly exploring the possibilities for developing links between Subic Bay Freeport and the Eilat Port to support trade and investment.
AMA Education System (AMAES) and HackerU signed an MOU for a cooperation to develop cybersecurity-related certification courses in the Philippines.
Le Soleil Shipping Agencies, Inc. and ZIM Integrated Shipping Services Ltd. inked an MOU for collaboration to provide additional ships/vessels to service the country's local and international shipping requirements.
An MOU between the Armscor Global Defense, Inc. and EMTAN Karmiel Ltd. was signed for the transfer of know-how and technology by EMTAN to Armscor. This will enable the local arms company to create a local manufacturing facility for the manufacture of weapons in the Philippines, under the license from EMTAN.
The MOU between the KEREM IT Solutions and Carbyne Ltd. is a vending agreement for the local partner to promote and sell the other party's products. KEREM IT also signed the same MOU with SuperCom.
LOIs
Amdocs Philippines, Ltd. signed an LOI to expand operation in software development and support service as the Philippines becomes its hub in the Asia Pacific Region.
TrueLogic Online Solutions, Inc. signed an LOI to expand operation in software, systems development, and support services.
Silver Shadow Advanced Security Systems and Rayo Illuminar Corporation inked an LOI to explore opportunities in the manufacturing and refurbishment of small arms and ammunitions, together with local partner, RayoIlluminar.
MIMA TECH signed an LOI for the expansion of operations in the field of agriculture, and waste water and sewerage treatment projects.
Fly East Philippines (FEPPY Inc.) signed an LOI for the expansion of current Philippine operations on tourism development.
FoodLab Capital inked an LOI for the expansion of operations by building FoodTech Acceleration Center within the Cagayan Special Economic Zone and Freeport to service the food industry locators of the Cagayan Economic Zone Authority (CEZA).
The last LOI signed was between the Assuta Medical Center and I-DEA Ventures Group, Inc. for the increase of operations in the Philippines by building a state-of-the-art Medical Center within the Cagayan Special Economic Zone and Freeport (CSEZFP) to service the medical needs of the locators of the CEZA.