India, PH sign MoU for better partnership
The India Business Forum (IBF) and Philippine Economic Zone Authority (PEZA) signed a memorandum of understanding (MoU) as part of IBF’s support to incoming Indian investors to Philippine ecozones.
Indian firms, including pharmaceutical companies, are interested in investing in Philippine ecozones, said IBF President Dileep Tiwari.
Tiwari added that this MoU will “pave the way way for a new relationship” between the two departments.
“Some of my colleagues are already interested to open an office in PEZA economic zones. Also, some members who are non-information technology-business process outsourcing, like those coming from the pharmaceutical background are also considering,” Tiwari added.
As of September 2021, there are 29 Indian locators in PEZA ecozones. They have a total invesmtner of P10.315 billion.
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