Marcos secures $22-M investment pledges from Indonesia’s top firms

JAKARTA, Indonesia — President Ferdinand "Bongbong" Marcos Jr. has secured $22 million in investment pledges after meeting top Indonesian companies, the Presidential Communications Office (PCO) said Wednesday.

Marcos met with executives of PT Vaksindo Satwa Nusantara, PT WIR Asia Tbk, and Pasifik Satelit Nusantara (PSN) at the sidelines of the 43rd Association of Southeast Asian Nations Summit and other related summits.

The PCO said these meetings are for increased partnerships in animal health, artificial intelligence, and digital connectivity.

PT Vaksindo Satwa Nusantara expressed its intention to cooperate with Univet Nutrition and Animal Healthcare Company (UNAHCO Inc.) Philippines, its local partner, on veterinary vaccines and will pursue an infusion of $2 million in investments this year, the PCO said.

The PCO said the company will soon provide the Philippines with an avian influenza vaccine through this partnership.

Marcos also met with PT WIR Asia Tbk, whose subsidiaries made a commitment to invest $20 million in the Philippines. The firm is a publicly listed Indonesian company that develops augmented reality technology and artificial intelligence. It is also considered the first metaverse company in Indonesia, according to the PCO.

Meanwhile, Pasifik Satelit Nusantara (PSN) provided Marcos with an update on the agreement signed last year, which involved the launching of a satellite in December 2023 that could help improve digital connectivity in the Philippines.

During Marcos’ visit to Indonesia in September last year, PSN signed a memorandum of agreement with WIT Philippines Inc.

The allocation of 13.5 gbps of bandwidth for the Philippines from a new satellite that PSN is scheduled to launch within the year, the PCO said.

This will allow WIT to fulfill its intentions to develop a bigger market for both government and consumer markets in the Philippines.

On Tuesday afternoon, Marcos attended the roundtable dialogue with the ASEAN Business Advisory Council and other invited businessmen. —VAL, GMA Integrated News