You may find it challenging to look for the best industry or company to invest in especially if you’re just starting out. Existing investors have experienced struggling for sure but making yourself aware of your environment will give you clues on what to do and where to invest your money. Few good examples are tourism, agriculture, and e-commerce industries which are expected to boom in the coming years. In fact, both the Philippines and Indonesia have had important agreements during Philippine-Indonesia Economic and Investment Summit. Let’s take a look at what good did the summit bring to our progressing economy.
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During the Philippine-Indonesia Economic and Investment summit held last June 2018, five agreements in the e-commerce, tourism, and agriculture industries have been signed and most of these agreements are Memorandum of Understanding (MoU), which means almost all businesses are ready to connect and further their partnership with the parties involved. This first-ever PHL-Indonesia Summit was conducted in Jakarta and hosted by the Philippine Embassy together with The Philippine Business Club, Indonesia (PBCI) and Philippine Trade and Investment Center, Jakarta (PTIC-Jakarta). This event marked the 70th anniversary of the Philippines and Indonesia’s bilateral and diplomatic relationship. There were 300 diplomats, businessmen, and government officials who attended the summit.
The signed business agreements include a Cooperation Agreement between the Cagayan Economic Zone Authority (CEZA) and PBCI which targets the promotion of CEZA to the investors in Indonesia via PBCI’s network. Weepay Processing Corporation, a Fintech Company, was able to sign a Memorandum of Understanding with KOIN TOKO Indonesia and PT Passpod Indonesia for the growth of e-commerce and digital tourism. Also, Jet Tech Philippines closed a deal with Satmarindo Group to construct a coconut mill in Sulawesi, Indonesia. Blue Pearl Travel and Tours grabbed a partnership with PT Aliyad Detinasi Indonesia. These were just some of the important deals made during the summit.
It was also noted that the Philippine companies in Indonesia are seeking to expand regionally and hoping to look for local partners through economic integration in Southeast Asia. For the record, the bilateral economic relations between Indonesia and the Philippines has been increasing at 3.4% average yearly over the previous five years. It’s a good thing to hear that our country is making progress when it comes to partnering up with another country in order to boost the performance of our economy. And if you’re wondering what’s in it for you as an investor, the clue is already there. It’s obvious that tourism, agriculture, and e-commerce are getting big.