Philippine President Ferdinand Romualdez Marcos Jr. Witnesses MOU Signing between ASEAN-BAC Malaysia and ASEAN-BAC Philippines to Explore Agriculture and MSME Development Partnerships
Kuala Lumpur, Thursday, 27 July 2023 – ASEAN Business Advisory Council (ASEANBAC) Malaysia today signed a Memorandum of Understanding with ASEAN-BAC Philippines on Partnership in Agriculture and MSME Development, witnessed by The Honourable President of the Republic of Philippines Ferdinand Romualdez Marcos who is on his official visit to Malaysia.
The memorandum seeks to explore the feasibility of collaborative studies and mentorship programs for potential agriculture technology, food security, agri-partnership business models and value chain development. This collaboration also aims to engage with small, medium, and large farmers, enterprises, and government entities.
Additionally, it seeks to identify business requirements to develop trade and investment opportunities in various agricultural products and services, such as palm oil, rubber, fruits, poultry, and agri-tech between Malaysia and the Philippines.
Tan Sri Nazir Razak, Chairman of ASEAN-BAC Malaysia said “ASEAN-BAC Malaysia is delighted to partner with ASEAN-BAC Philippines led by Chair Mr Joey Concepcion to promote cross-border cooperation in agriculture, food security and other related industries. Food security is a major challenge for Malaysia with imports of food accumulated to RM482.8 billion while our food export was only RM39 billion between 2012 to 2022. Malaysia needs to not only reduce our food import bills but also become competitive in food agriculture. ASEAN-BAC Malaysia is happy to facilitate potential partnerships between prominent players in relevant fields from Malaysia and the Philippines.”
Mr Joey Concepcion highlighted “Public-private partnerships are essential as we move toward regional economic integration and make our agriculture industries productive and
competitive. The Philippines has already several of these big-brother models in the Philippines covering prime commodities like tobacco, coconut and rice, with large Philippine companies like Universal Leaf, Lionheart Farms and Yovel East successfully implementing their inclusive models in the communities where they operate. We are confident, that with this partnership with ASEAN BAC Malaysia and under the leadership of Chairman Nazir Razak, we will both benefit from sharing our experiences in agriculture, agriculture technology, food security, agripreneurship business models, and value chain development.”
competitive. The Philippines has already several of these big-brother models in the Philippines covering prime commodities like tobacco, coconut and rice, with large Philippine companies like Universal Leaf, Lionheart Farms and Yovel East successfully implementing their inclusive models in the communities where they operate. We are confident, that with this partnership with ASEAN BAC Malaysia and under the leadership of Chairman Nazir Razak, we will both benefit from sharing our experiences in agriculture, agriculture technology, food security, agripreneurship business models, and value chain development.”
ASEAN-BAC Philippines signed the MOU through the Philippine Center for Entrepreneurship’s Kapatid Angat Lahat Agri Program (KALAP) which aims to foster the transformation of major agricultural commodities and industries following inclusive business models and a conducive business environment in the Philippines.
