PH, Jordan sign $60M investment deals
Updated (11:47 p.m.)
AMMAN — The Philippines and Jordan signed on Thursday nine business agreements and letters of intent worth $60 million that is expected to generate 432 jobs.
The deals include 7 letters of intent and 2 memoranda of agreement (MOUs).
The Philippine Chamber of Commerce and Industry and the Jordanian Chamber of Industry signd the two MOUs.
The letters of intent include:
Nafith International is aiming to explore opportunities on logistics planning and operations and locate its regional office in the Philippines. The project costs $50 million and will generate 250 jobs by 2022.
Universal Labs Ltd. will explore opportunities in manufacturing and set up a production facility for Dead Sea products for export. The project costs $5 million snd will 70 jobs by 2020.
Arabia Cell is looking for opportunities in mobile-related services and solutions, information technology, software and mobile development. It is planning to invest $2.4 million for the project and is expected to create 22 jobs by 2020.
Dinarak aims to explore on digital cross-border remittances from Jordan to the Philippines. The investment is projected to cost $2 million and will create 25 jobs by 2023.
Reprogene aims to explore opportunities on genomic testing services for hospitals and clinics. The project costs $200,000 and will create 10 jobs in 2018.
Mobile Z Nation is eyeing to invest $200,000 in the information and communication technology (ICT) sector related to health care and insurance.
Galaxy Organization is exploring opportunities on technology, robotics, ICT development, cyber crime, artificial intelligent, green-energy and e-education. The project costs $25,000 and is expected to create 55 jobs by 2020.
President Rodrigo Duterte witnessed the signing of the deals during a business forum at the Intercontinental Hotel here.
READ: Duterte to create dep’t to ease business processing for investors in PH
