Jordanian, PHL companies sign $60M in business deals

COMPANIES FROM the Hashemite Kingdom of Jordan and the Philippines signed on Sept. 6 business agreements and letters of intent (LoIs) with an estimated value of over $60 million, Trade Secretary Ramon M. Lopez said.
In a phone message to reporters in Manila on Friday morning, Sept. 7, Mr. Lopez said “two memoranda of understanding (MoUs) and seven LoIs worth $60.675 million” were signed at a business forum at the Intercontinental Hotel in Ammam, Jordan, held as part of President Rodrigo R. Duterte’s official visit to the country.
Mr. Lopez said the deals are expected to generate 434 jobs for Filipinos.
Mr. Duterte, in his speech, assured Jordanian businessmen on the ease of doing business in the Philippines.
“I tell you now, I give you my solemn commitment that if you go there, it will be business with ease,” he said.
He added: “I will guarantee you the return [on investment]. There will be no corruption. And if you ask anything, even a toothpick, I will guarantee you, you can have my audience any time of the day…or night.”
Mr. Duterte witnessed the signing of the LoIs from Nafith International for logistics planning and operations; Universal Labs Ltd. for setting up a production facility in the Philippines for Dead Sea products; Arabia Cell for opportunities in mobile-related services and solutions, information technology, software and mobile development; and Dinarak for digital cross-border remittances from Jordan to the Philippines.
There are also LoIs on genomic testing services for hospitals and clinics from Reprogene; information and communication technology (ICT) sector related to health care and insurance from Mobile Z Nation; and technology, robotics, ICT development, cyber crime, artificial intelligent, green-energy and e-education from Galaxy Organization.
The Philippine Chamber of Commerce and Industry (PCCI) and Jordan Chamber of Commerce (JCC) signed an MoU on the promotion, strengthening, and expansion of trade, economic, scientific, technological cooperation, and other business relations.
The two business chambers also signed an MoU on the establishment of linkages to facilitate cooperation and joint ventures among members, and to increase bilateral trade volume between the two countries. — Arjay L. Balinbin