PH, Indonesia hold economic and investment summit, agreed to intensify investment

By DTI-OSEC-FTSC
June 20, 2019

JAKARTA – The 1st Philippines-Indonesia Economic and Investment Summit was convened on 18 June 2019 in Westin Jakarta Hotel, Jakarta, Indonesia, as part of the year-long celebration of the 70th year of Philippines-Indonesia bilateral relations.

Ambassador Leehiong Tan Wee opened the Summit and said that the “summit could not be more timely, as the Philippines and Indonesia are both poised as the new emerging economies in the region posting some of the world's fastest economic growth”.

On other hand, Mr. Antonio B. Capati, Chairman of Philippine Business Club Indonesia (PBCI) expressed that it is about time that Philippines and Indonesia enhance its economic ties in order to optimize opportunities in the ASEAN region and overall relations. Capati also stressed that “the historic 1st Philippines-Indonesia Economic & Investment Summit is a testament to our alliance and friendship”.

Governor Marjorie O. Ramos-Samaniego of the Philippine Board of Investments (BOI) made a keynote presentation on why the Philippines remain Asia’s bright spot, while Secretary Bernadette Romulo-Puyat of the Department of Tourism presented investment opportunities in PH tourism industry as well as updates on the efforts of the current administration on sustainable tourism. On the other hand, Secretary Raul Lambino, CEO and Administrator of the Cagayan Economic Zone Authority (CEZA) pitched on the opportunities in Cagayan region and provided updates on why CEZA is poised to become the fintech and new crypto valley of Asia.

In closing, Commercial Attaché Jeremiah C. Reyes of PTIC Jakarta shared that “while trade and business relations have flourished between Philippines and Indonesia, there is still plenty of room and an abundant number of avenues that both countries can tap. The Summit is not just a celebration of endearing friendship, but also the identification of potential areas that we can partner and collaborate.”

Several B2B agreements and partnerships were also signed during the Summit which include digital tourism, travel and tours, investment promotion, agriculture, e-commerce, and financial technology.

Attended by potential investors, decision makers, policy groups, and business associations from both countries, the 1st Philippines-Indonesia Economic and Investment Summit was organized by the Philippine Business Club Indonesia, in collaboration with the Department of Trade and Industry through the Philippine Trade and Investment Center – Jakarta, Embassy of the Philippines, and the Indonesian Chamber of Commerce and Industry.