Latest news with #PCO
The Star
3 days ago
- Business
- The Star
Singapore, China and Malaysia dominate the foreign investment market in Indonesia
JAKARTA, Aug 8 (Bernama-ANTARA): Head of Indonesia's Presidential Communications Office (PCO) Hasan Nasbi, identified Singapore and Malaysia as among the five main countries with the largest investments in Indonesia as of August 2025. In a press conference at the PCO Office in Jakarta on Thursday, he stated that the data demonstrates foreign investors' confidence in the national economic prospects under President Prabowo Subianto's administration. "Of the five countries that have invested the most in Indonesia, Singapore is the largest investor, with an investment value of US$8.8 billion," he said reported ANTARA news agency. Also in Indonesia, he added that Hong Kong and China investments also reached more than US$8 billion, while Malaysia's investment was US$1.7 billion, and Japan's investment was US$1.6 billion. The five largest sectors attracting foreign investment included the basic metals industry, transportation and telecommunications, mining, services, and the housing and industrial estates sector. "These investments have been realised. This means they are truly investing here, not just commitments or promises," he stated. The total realised investment value as of August 2025 was recorded at Rp942.9 trillion, or nearly 50 per cent of the annual target of Rp1,900 trillion. He said that the achievement became a strong signal that Indonesia remains a prime global investment destination. - Bernama-ANTARA
GMA Network
3 days ago
- Politics
- GMA Network
Marcos says he will sign bill postponing barangay, SK polls
Pres. Marcos said he will sign the bill postponing the BSKE. (Photo from PCO) President Ferdinand Marcos Jr. announced he will sign the bill postponing the 2025 Barangay and Sangguniang Kabataan Elections (BSKE). "I'll sign it," Marcos said in a media forum Bengaluru, India when asked if he intends to sign the bill or simply allow it to lapse into law. Marcos pointed out that the upcoming parliamentary elections in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) in October this year should be given focus. The Philippines concluded its midterm national and local elections in May. "We are facing one of the biggest elements here, kakatapos lang natin ng malaking eleksyon, midterm election... You have to remember, the BARMM election that is upcoming in October is the first time we have ever had this kind of election at all. Sa buong kasaysayan ng Pilipinas, hindi pa nagkaroon ng BARMM Parliament na hinalal ng tao. So, that is why it is so important," Marcos said. 'If that election (BARMM) fails, malaking bagay, malaking failure 'yan doon sa peace process. Kaya't kailangan na kailangan maging matagumpay ang pagganap ng halalan ng BARMM. And that's why we really are focusing on that,' he added. Earlier, Commission on Elections chairperson George Garcia said Malacañang informed the poll body of the law signing to be held on Tuesday, August 12. The 2025 BSKE is initially set on December 1, 2025. However, the Congress, in June, ratified a bicameral conference committee report seeking to extend the term of office for the barangay and SK officials from three to four years, and postpone the elections to the first Monday of November 2026. —LDF, GMA Integrated News
New Straits Times
3 days ago
- Business
- New Straits Times
Singapore, China, Malaysia dominate foreign investment in Indonesia
JAKARTA: Head of Indonesia's Presidential Communications Office (PCO) Hasan Nasbi identified Singapore and Malaysia as among the five main countries with the largest investments in Indonesia as of August 2025. In a press conference at the PCO Office in Jakarta on Thursday, he stated that the data demonstrates foreign investors' confidence in the national economic prospects under President Prabowo Subianto's administration. "Of the five countries that have invested the most in Indonesia, Singapore is the largest investor, with an investment value of US$8.8 billion," he said reported ANTARA news agency. In Indonesia, realised Hong Kong and China investments reached more than US$8 billion, while Malaysia's investment was US$1.7 billion, and Japan's investment was US$1.6 billion. The five largest sectors attracting foreign investment included the basic metals industry, transportation and telecommunications, mining, services, and the housing and industrial estates sector. "These investments have been realised. This means they are truly investing here, not just commitments or promises," he stated. The total realised investment value as of August 2025 was recorded at Rp942.9 trillion, or nearly 50 per cent of the annual target of Rp1,900 trillion. He said that the achievement became a strong signal that Indonesia remains a prime global investment destination.
GMA Network
04-08-2025
- Business
- GMA Network
Marcos: PH, India to elevate ties to strategic partnership
Pres. Marcos said the cooperation between the Philippines and India would intensify 'and become even more impactful in many areas that we have not explored with India before.' (Screenshot from PCO) President Ferdinand 'Bongbong' Marcos Jr. on Monday night disclosed that the Philippines and India would elevate their relations to a strategic partnership. 'For seven and a half decades, we have had excellent relations with India. But tomorrow, this relationship is going to receive a major boost, a major upgrade as Prime Minister and I inaugurate a strategic partnership between the Philippines and India,' Marcos said during his meeting with the Filipino community in New Delhi. Marcos said this means that the two nations' cooperation would intensify 'and become even more impactful in many areas that we have not explored with India before.' These include defense, trade and investment, health, tourism, and other areas, Marcos said. Marcos arrived in New Delhi this afternoon for a five-day state visit, which is upon the invitation of Prime Minister Narendra Modi. Meanwhile, in the same event, Marcos said his foreign visits always aim to improve the lives of Filipinos abroad. He also lauded Filipinos in India, saying that they have made an excellent portrait of a Filipino to the rest of the world. —LDF, GMA Integrated News
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First Post
04-08-2025
- Business
- First Post
Philippines President Marcos in India for 5-day visit: Why this visit is significant
Philippines President Ferdinand Marcos Jr will make his first state visit to India from today (August 4), marking 75 years of diplomatic ties. The visit includes talks with Prime Minister Modi, defence and trade discussions, and a Bengaluru business engagement read more Philippine President Ferdinand Marcos Jr delivers his fourth State of the Nation Address (SONA), at the House of Representatives, in Quezon City, Metro Manila, Philippines, July 28, 2025. File Image/Reuters Philippines President Ferdinand Marcos Jr is on his first official visit to India from Monday to Friday (August 4-8, 2025) aimed at advancing cooperation between New Delhi and Manila. The visit comes as the two nations commemorate 75 years of diplomatic relations. This high-level state visit is expected to encompass a broad agenda – from defence and maritime security to trade, investment, and cultural exchange – and marks the first trip by a Filipino head of state to India since Gloria Macapagal-Arroyo's visit in 2007. STORY CONTINUES BELOW THIS AD What's on the Marcos agenda in India Marcos, invited by Prime Minister Narendra Modi, will be accompanied by First Lady Louise Araneta Marcos, along with an entourage including senior Cabinet ministers, top bureaucrats, key dignitaries and business leaders. During his stay in New Delhi, Marcos will meet with Modi on August 5 for in-depth bilateral talks. In addition to Modi, he is slated to call on President Droupadi Murmu and External Affairs Minister S Jaishankar, with discussions expected to cover areas ranging from regional security concerns to bolstering economic ties. According to the Philippine Communications Office (PCO), the official engagements won't be limited to Delhi. 'After official meetings and events in New Delhi, the President and his delegation will travel to Bangalore. He will meet with the business sectors in both cities,' the PCO stated. This Bengaluru leg will be a focal point for economic engagement, as Marcos interacts with leading Indian companies and potential investors. Marcos will also hold a community outreach session with members of the Filipino diaspora in New Delhi. The visit, spanning five days, signals Manila's intent to strengthen strategic ties with one of Asia's largest economies, while also providing New Delhi with a valuable opportunity to deepen its 'Act East' Policy. The trip follows a long hiatus in top-level exchanges. The last time an Indian president visited the Philippines was Ram Nath Kovind in 2019, whereas Marcos's journey will revive head-of-state diplomacy after nearly two decades. India-Philippines defence a priority Defence cooperation has emerged as one of the strongest anchors of India-Philippines relations, and it is set to be a highlight of this state visit. In January 2022, Manila signed a $374.9 million agreement for the purchase of the BrahMos supersonic cruise missile system, making the Philippines the first foreign buyer of India's flagship missile platform. STORY CONTINUES BELOW THIS AD The first delivery of the BrahMos took place on April 19, 2024, an event that signalled growing strategic convergence between the two countries. India has been steadily expanding its defence outreach to Southeast Asia, and with the Philippines, the collaboration spans military training, ship visits and maritime security dialogues. Indian Navy and Coast Guard vessels frequently make port calls to the Philippines – notable visits include INS Satpura in June 2022, INS Ranvijay and INS Kora in August 2021, and several earlier deployments. These have often been accompanied by joint exercises, including the first-ever Navy-to-Navy Passage Exercise in the West Philippine Sea in 2021. Cooperation has gone beyond drills and deployments. The two sides signed an MoU on Enhanced Maritime Cooperation in 2023, alongside a Standard Operating Procedure (SOP) for exchanging white-shipping information, allowing real-time sharing of data on commercial ships to bolster maritime security. High-level defence engagements have also been frequent. A Philippine Coast Guard delegation led by CG Admiral Artemio M Abu visited India in August 2023, and the Philippine Army's commanding general, Lt Gen Roy Mabagos Galido, travelled to India for the 13th Indo-Pacific Army Chiefs' Conference in September 2023. STORY CONTINUES BELOW THIS AD A 2006 Defence Cooperation MoU led to the creation of the Joint Defence Cooperation Committee (JDCC), which has convened four times, most recently in March 2023 in New Delhi. A separate MoU on Defence Industry and Logistics Cooperation signed in 2017 resulted in a Joint Defence Industry and Logistics Committee (JDILC), which has met thrice, including in March 2022. The armed forces of both countries also participate in specialised training exchanges. Philippine officers have attended India's prestigious National Defence College (NDC), while Indian officers have been part of the Master in National Security Administration (MNSA) course in Manila. Engagements extend to staff college programs and delegation visits, including multiple visits by Indian military education institutions such as the Army War College, Mhow. During the Shangri-La Dialogue in Singapore in 2024, Marcos articulated Manila's vision, stating that his country 'will pursue more robust collaboration with friends such as India.' This declaration, alongside India's consistent stance on freedom of navigation and territorial integrity in the South China Sea, positions the defence track as an area ripe for new agreements or expanded commitments during the visit. STORY CONTINUES BELOW THIS AD What trade between India-Philippines looks like While defence cooperation grabs headlines, trade and investment form the backbone of the India-Philippines relationship – and Marcos's visit is expected to bring this into sharper focus. Bilateral trade has grown steadily, hitting $3.53 billion in 2023-24, a year-on-year increase of 8.6 per cent. India has maintained a healthy trade surplus, exporting $2.09 billion worth of goods to the Philippines while importing $1.43 billion. Major Indian exports include: Engineering goods and automotive parts Pharmaceutical products (India supplies around 20 per cent of total pharma exports to ASEAN) Steel, petroleum products, and chemicals Electronics, plastics, rice, and bovine meat Key imports from the Philippines to India feature: Electrical machinery and semiconductors Copper, lead, and precious stones Plastics and ores Food industry residues and animal fodder According to trade data, Indian pharmaceutical products accounted for 15.96 per cent of Philippine pharmaceutical imports in 2023, putting a spotlight on India's strong role in Manila's healthcare sector. Investment flows complement trade. Indian companies have invested an estimated $5 billion in the Philippines, largely in sectors like IT and BPO services, pharmaceuticals, textiles, agriculture and FMCG. Conversely, Philippine investments in India are smaller but strategically placed, with firms like Ayala's AC Energy Corporation and Atlantic Gulf & Pacific Company (AG&P) active in renewable energy, construction, and infrastructure. Efforts to further streamline commerce have been ongoing. In April 2022, the two countries signed an Agreement on Cooperation and Mutual Assistance in Customs Matters (ratified in June 2023). Additionally, talks on a Preferential Trade Agreement (PTA) were revived in December 2023, with negotiations continuing to frame the Terms of Reference for the Trade Negotiations Committee. To encourage tourism and business exchanges, the Philippines recently introduced visa-free travel for Indian nationals, while direct flights between the two countries are expected to resume by late 2025 – a move that could significantly boost connectivity. STORY CONTINUES BELOW THIS AD Why a strong India-Philippines bond matters The visit holds significance beyond bilateral ties. India and the Philippines are both part of a wider Indo-Pacific strategic framework, sharing concerns about maritime security and trade routes. The Ministry of External Affairs has framed the visit as part of India's broader outreach to Southeast Asia, noting, 'India's relations with the Philippines are an integral pillar of our 'Act East' Policy, Vision MAHASAGAR and our vision of the Indo-Pacific. The forthcoming State Visit of President Marcos coincides with the 75th anniversary of India-Philippines diplomatic relations. The visit is an opportunity for both leaders to set the path for future bilateral cooperation and to engage on regional and international issues of mutual interest.' India's Comprehensive Strategic Partnership with ASEAN also feeds into the relationship, and Marcos's engagements in India are expected to highlight Manila's role as a key Southeast Asian partner for New Delhi. The Philippines, facing ongoing challenges in the South China Sea, views partnerships with like-minded countries as critical. India, which has consistently upheld the principle of freedom of navigation and opposed unilateral changes to the status quo in maritime disputes, provides Manila with a supportive partner in this domain. STORY CONTINUES BELOW THIS AD With inputs from agencies
