The Philippines secured about $60.67 million worth of investment pledges during the recent trade mission to Jordan, the Department of Trade and Industry announced Friday.
Trade Secretary Ramon Lopez said the Philippine government successfully negotiated two agreements between the Philippine Chamber of Commerce and Industry and the Jordan Chamber of Commerce for the expansion of scientific and technological relations and establishment of business linkages between Philippine and Jordanian companies.
“The agreements and pledges of interest signed today are big success for the Philippines, especially coming from zero approved investments in 2017,” Lopez said.
The Philippines also signed letters of intent with eight Jordanian companies, including that of Nafith International seeking opportunities on logistics planning and operations. Nafith plans to set up a logistics office here.
Another company, Universal Labs Ltd., plans to manufacture beauty products using minerals from the Dead Sea for export to Asian countries, while Arabia Cell expressed interest to provide mobile-related services and solutions, software and mobile development.