P3-B investment deal between PH, Malaysian firms fast-tracked during Marcos state visit

The finalization of a P3-billion investment deal between two private companies in the Philippines and Malaysia was hastened with the state visit of President Ferdinand "Bongbong" Marcos Jr. to the foreign country.Marcos said that the contract between Manuel V. Pangilinan’s Metro Pacific Investment Corp. and Malaysia’s Hartasuma Sdn. Bhd. will be on top of the $285 million in investment pledges secured by the country from Malaysian business leaders.

“So, this is another part of that effort,” the President said, referring to the common goal of the Association of Southeast Asian Nations , particularly the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area “Literally, because of the visit, the President’s presence in KL [Kuala Lumpur] hastened the progress of this agreement and.…3 billion will be pledged for investments into the Philippines,” Romualdez said.

The agreement seeks to provide a framework for the cooperation between MPIC and Hartasuma, with both parties working together to identify potential joint development and joint venture collaboration.

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