Duterte’s Israel visit results in $82.9 in deals

During President Duterte’s historic four-day visit to the Holy Land, almost US$83 million worth of investment and cooperation deals were signed between the Philippines and Israeli firms, which will generate around 790 jobs.

A total of 21 deals were signed in a business forum held in Jerusalem, amounting to US$82.9 million – three memoranda of agreement (MOAs), eleven memoranda of understanding (MOUs), and eight letters of intent (LOIs):

MOAs

Century Properties Inc. and Globe Invest Ltd.

This MOA is for a collaboration between the two companies, who will enter into a Joint Venture Agreement for the following: (1) advanced energy optimization management, (2) advanced agriculture and urban farming, (3) prefabricated housing, (4) water desalination, and (5) other master-planned real estate development projects.

Stone of David Corporation and Gaia Automotive Industries Ltd.

This MOA is for the two companies to cooperate on the marketing and promotion of tactical vehicles, including technology transfer.

Stone of David Corporation and MCTECH RF Technologies Ltd.

This MOA is for the two companies to cooperate in the development of military and intelligence products and hardware.

MOUs

The following MOUs were entered upon during the business forum:

• Century Pacific Food, Inc., and Kvuzat Yavne – for the distributorship of Century-brand canned tuna within Israel and the Palestinian Authority
• Integrated Computer Systems Inc. and Verint Systems Ltd. – a Teaming Agreement to explore mutually beneficial opportunities for collaboration on security, intelligence data mining, and information technology
• Philippine Center For Entrepreneurship Foundation – Go Negosyo and Israel-Philippines Chamber of Commerce/Israel Chamber of Commerce of the Philippines – for the establishment of a partnership for joint development and undertaking of programs, projects, and advocacy initiatives related to the Mentor Program.
• Philippine Chamber of Commerce and Industry (PCCI) and Federation of Israeli Chambers of Commerce – for the exchange of information about commerce, industry market updates, and identification of business and trade opportunities
• Philippine Chamber of Commerce and Industry-National Capital Region (PCCI-NCR) and Jerusalem Chamber of Commerce (JCC) – for the promotion, strengthening, and expansion of trade, economic, scientific, and technological cooperation and other business relations of the Chambers of Commerce, including the exchange of information on commerce, manufacturing, pharmaceutical/health and wellness, real estate/construction, ICT, and renewable energy
• Subic Bay Metropolitan Authority (SBMA) and the Eilat Port Company Ltd. – for the promotion of an all-weather route between the Subic Bay Freeport and Eilat Ports, particularly exploring the possibilities for developing links to support trade and investment
• AMA Education System (AMAES) and HackerU – to develop cyber security-related certification courses in the Philippines
• Le Soleil Shipping Agencies, Inc. and ZIM Integrated Shipping Services Ltd. – for a collaboration to provide additional ships to service the country’s local and international shipping requirements
• Armscor Global Defense, Inc. and EMTAN Karmiel Ltd. – for an agreement to transfer of knowledge and technology between the two parties in order to enable Armscor to create a local manufacturing facility for the manufacture of weapons in the Philippines, under the license from EMTAN
• KEREM IT Solutions, with Carbyne Ltd. and SuperCom – a vending agreement for the local partner to promote and sell the other party’s products

LOIs

In addition to the MOAs and MOUs above, the following LOIs were signed during the forum:

• Amdocs Philippines, Ltd. – to expand their operation in software development and support service, with the Philippines their hub in the Asia Pacific Region
• TrueLogic Online Solutions, Inc. – to expand their operation in software, systems development, and support services
• Silver Shadow Advanced Security Systems and Rayo Illuminar Corporation – to explore opportunities in the manufacturing and refurbishment of small arms and ammunitions, together with local partner, Rayo Illuminar.
• MIMA TECH – for the expansion of operations in the field of agriculture, and wastewater/sewerage treatment
• FlyEast Philippines (FEPPY Inc.) – for the expansion of their current Philippine operations on tourism development
• FoodLab Capital – to building the FoodTech Acceleration Center within the Cagayan Special Economic Zone and Freeport, to service the food industry locators of the Cagayan Economic Zone Authority (CEZA).

Assuta Medical Center and I-DEA Ventures Group Inc. – to build 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.

via Manila Bulletin / Argyll Cyrus Geducos