PHL, Jordan ink over $60 million worth of business deals

Written by Kaye Fe on

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Jordan’s King Abdullah II and President Rodrigo Duterte review the honor guards at the Royal Palace in Amman, on September 6, 2018. / AFP / Khalil Mazraawi/

(Eagle News) — The Philippines inked over $60 million worth of business deals with Jordanian companies during President Rodrigo Duterte’s visit.

According to Trade Secretary Ramon Lopez, the $60.675 million the two memoranda of understanding and seven letters of intent are worth are expected to generate over 400 jobs.

The letters of intent were submitted by the following:

  1. Nafith International, which plans to explore opportunities on logistics planning and operations and locate its regional office in the Philippines. The project costs $50 million and is expected to generate 250 jobs in two years.
  2. Universal Labs Ltd., which aims to explore opportunities in manufacturing and set up a production facility for Dead Sea products for export. The company may invest $5 million in the project, which is seen to create 70 jobs by 2020.
  3. Arabia Cell, which is looking at opportunities in mobile-related services and solutions, information technology, software and mobile development. Arabia Cell is planning to invest $2.4 million for the project, which is expected to create 22 jobs in two years
  4. Dinarak, which aims to invest $2 million on digital cross-border remittances from Jordan to the Philippines. The investment is projected to create 25 jobs by 2023.
  5. Reprogene, which is looking at investments in genomic testing services for hospitals and clinics. The investment costs $200,000 and can create ten jobs this year.
  6. Mobile Z Nation, which aims to invest $200,000 in the information and communication technology (ICT) sector related to health care and insurance.
  7. Galaxy Organization, which is eyeing investing on technology, robotics, ICT development, cyber crime, artificial intelligent, green-energy and e-education, The project costs $25,000 and is seen to create 55 jobs next year.

The two memoranda of understanding, on the other hand, were signed between the Philippine Chamber of Commerce and Industry and the Jordanian Chamber of Industry.

President Duterte proceeded to Jordan from Israel, where he was on a four-day official visit.

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