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PH bags $83-M deals from Israel



PRESIDENT Duterte meets Israel President Reuven Rivlin in Jerusalem, Israel. (AP)

PRESIDENT Duterte meets Israel President Reuven Rivlin in Jerusalem, Israel. (AP)


JERUSALEM, Israel – Almost $83 million worth of investments and cooperation deals that would gen­erate around 790 jobs were inked between the Philippine and Israeli firms during President Duterte’s historic four-day visit here.

In a business forum, 21 deals were signed between Filipino and Israeli private firms here – three memoranda of agreement, 11 memoranda of understanding, and eight letters of intent amounting to $82.9 million.

These include a MoA between Century Properties Inc. and Globe Invest Ltd. for a collaboration to enter into a joint venture agree­ment for advanced energy opti­mization management; advanced agriculture and urban farming; pre­fabricated housing; water desalina­tion; and other masterplanned real estate development projects.

A MoA between the Stone of Da­vid Corp. and Gaia Automotive In­dustries Ltd. was also signed for a cooperation on the marketing and promotion of tactical vehicles, in­cluding technology transfer.

The last MoA signed was be­tween the Stone of David Corp. and MCTECH RF Technologies Ltd. for cooperation in the development in military and intelligence products and hardware.

Among the MoU was between Century Pacific Food Inc. and Kvu­zat Yavne for the distribution of canned tuna products for the Cen­tury brand within Israel and the Palestinian Authority.

Amdocs Philippines Ltd. signed an LoI to expand operation in software development and sup­port service as the Philippines be­comes its hub in the Asia-Pacific region. TrueLogic Online Solutions Inc. also signed an LOI to expand operation in software, systems de­velopment, and support services.