Duterte’s trip seals up to $80M in business deals with Israel

07-Sep-2018 Intellasia | UNTV News | 6:00 AM Print This Post

Despite the protests against his policies at home, President Rodrigo Duterte was welcomed by the Israeli business community during a business forum on Wednesday (September 3).

According to Malacanang, a total of 21 business deals amounting to $82.9M US dollars were signed between the Philippines and Israeli businesspeople, expected to generate jobs for at least 800 Filipinos.

The President, for his part, vows to provide a favourable business environment to Israeli businesspeople and to other foreign nationals who wish to invest in the Philippines.

“There will be no corruption. There will be no harassment,” the President said.

The agreements signed include three Memorandums of Agreement (MOA), 11 Memorandums Of Understanding (MOU), and seven Letters Of Intent (LOI). UNTV News and Rescue

Agreements signed during PRRD’s trip to Israel

1) MOA between Century Properties, Inc. and Globe Invest Ltd

(On advanced energy optimisation management; advanced agriculture and urban farming; housing; water treatment; and other master-planned real estate development projects.)

2) MOA between Stone of David Corporation and Gaia Automotive Industries Ltd

(On marketing and promotion of tactical vehicles, including technology transfer.)

3) MOA between Stone of David Corporation and MCTECH RF Technologies Ltd

(On development of military and intelligence products and hardware)

4) MOU between Century Pacific Food, Inc. and Kvuzat Yavne

(On the distribution of canned tuna products for the Century brand within Israel and the Palestinian Authority.)

5) MOU between Integrated Computer Systems, Inc. and Verint Systems Ltd

(A collaboration on security, intelligence data mining, and information technology.)

6) MOU between the Philippine centre for Entrepreneurship (PCE) -7Go Negosyo and Israel-Philippines Chamber of Commerce/Israel Chamber of Commerce

(To develop and undertake programmes, projects, and advocacy initiatives related to the Kapatid Mentor ME Programme.)

7) MOU between the Philippine Chamber of Commerce and Industry (PCCI) and the Federation of Israeli Chambers of Commerce

(To exchange information on commerce, industry market updates, and identification of business and trade opportunities.)

8) MOU between the PCCI-National Capital Region and Jerusalem Chamber of Commerce (JCC)

(To promote, strengthen, and expand trade, economic, scientific and technological cooperation, and other business relations between member-organisations of the two parties.)

9) MOU between Subic Bay Metropolitan Authority (SBMA) and Eilat Port Company Ltd

(To promote the all-water route between the Port of Subic Bay and the Eilat Port.)

10) MOU between AMA Education Systems (AMAES) and HackerU

(To develop cybersecurity-related certification courses in the Philippines.)

11) MOU between Le Soleil Shipping Agencies, Inc. and ZIM Integrated Shipping Services Ltd

(To provide additional ships or vessels to service the country’s local and international shipping requirements.)

12) MOU between Armscor Global Defense, Inc. and EMTAN Karmiel Ltd

(On transfer of know-how and technology of EMTAN to Armscor to enable the latter to create a local manufacturing facility for the manufacture of weapons in the Philippines, under license from EMTAN. This project has an estimated cost of US $10 million and is projected to generate 200 jobs.)

13) MOU between KEREM IT Solutions and Carbyne Ltd

14) MOU between KEREM IT Solutions and SuperCom

(To allow the local partner to promote and sell the other party’s products.)

15) LOI of Amdocs Philippines, Ltd

(To expand operations in software development and support services in the Philippines as its hub in the Asia-Pacific Region.)

16) LOI of TrueLogic Online Solutions, Inc.

(To expand operations in software, systems development, and support services. This venture has an estimated cost of US $500,000 and is projected to generate 100 jobs by 2019.)

17) LOI of Silver Shadow Advanced Security Systems and Rayo Illuminar Corporation

(To explore opportunities in the manufacturing and refurbishment of small arms and ammunition, together with the local partner, Rayo Illuminar Corporation. This project is estimated to cost $50 million and is expected to create 160 jobs by 2019)

18) LOI of MIMA TECH and I GilanGroup

(To expand operations in the field of agriculture and wastewater and sewerage treatment projects. This project is estimated to cost US $20 million, which is expected to generate 300 jobs by 2019.)

19) LOI of FlyEast Philippines

(To expand current Philippine operations on tourism development. This project is estimated to cost US $400,000 and is expected to create 30 jobs by 2019.)

20) LOI of FoodLab Capital

(To expand operations by building the FoodTech Acceleration centre within the Cagayan Special Economic Zone and Freeport (CSEZFP) to service the food industry locators of the Cagayan Economic Zone Authority (CEZA). This project is projected to cost US $ 1 million.)

21) LOI of Assuta Medical centre and I-DEA Ventures Group Inc.

(To expand operations in the Philippines by building a state-of-the-art medical centre within the CSEZFP to service the medical needs of the locators of the CEZA. Also expected to cost US $1 million.)



Category: Philippines

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