Vice President Jejomar C. Binay expressed confidence that his working visit to Malaysia will generate more investments in key industries and boost interest in Mindanao as an investment destination.
Binay left today for Kuala Lumpur to serve as keynote speaker at the Philippines-Malaysia Investment Partnership Forum on May 29.
“In Kuala Lumpur, we expect around 200 business leaders and investors from the Philippines and Malaysia to come together to exchange ideas on how to further enhance the already dynamic economic partnership between our two countries,” Binay said.
“Mindanao will be actively promoted as an investment destination, proof of the government’s determination to bring more investments, stimulate economic growth, and generate more jobs in the South,” he added.
Malaysia is the Philippines’ 9th largest trading partner with total trade amounting to almost $3.8 billion. Meanwhile, the Philippines is Malaysia’s 11th largest export market, valued at $1.4 billion; and the 8th largest import market valued at $2.4 billion.
Binay is also scheduled to meet with top Malaysian government officials including Prime Minister Datuk Seri Najib Tun Razak, Minister of International Trade and Industry YB Dato’ Sri Mustapa Bin Mohamed, Minister of Foreign Affairs Dato’ Sri Anifah Aman as well as former Prime Minister Tun Dr. Mahathir Mohamad.
“Our Ambassador has also asked me to grace the inauguration of the newly renovated Philippine Embassy, an invitation which I wholeheartedly accepted,” Binay said.
“And in keeping with my role as the Presidential Adviser on OFW Concerns, I will hold a dialog with the Filipino Community in Malaysia to check their living and working conditions, and find out from them how government could further extend assistance to them and to their families in the Philippines,” he added.
From Kuala Lumpur, Binay will proceed to Washington D.C. to speak at the closing of the 5th Global Housing Finance Forum at the World Bank Headquarters, where he is also scheduled to meet with World Bank Executive Director Rogerio Studart.
“As chairman of the Housing and Urban Development Coordinating Council, I am keen to share our own experiences and how we are addressing the concerns of the housing sector, primarily the demand for decent, affordable and climate-resilient housing for the working Filipinos,” Binay said.
“I also look forward to learning more from the forum so we may be able to improve our housing finance system here in the country,” he added.
While in the US, Binay is also set to meet with Ambassador Luis C. de Baca of the Office to Monitor and Combat Trafficking in Persons, State Department. He will also take part in the celebration of the 114th anniversary of Philippine Independence in California.