(meeting with PT Pasifik Satellite Nusantara)
At the sidelines of the 43rd ASEAN Summit on 5 September 2023, the Department of Trade and Industry (DTI) organized a series of business meetings led by President Ferdinand R. Marcos Jr. and DTI Secretary Alfredo Pascual, particularly with three prominent Indonesian companies from the key sectors of agriculture, digital technology, and connectivity.
The three companies were PT Pasifik Satelit Nusantara (PSN), PT Vaksindo Satwa Nusantara, and PT WIR Asia Tbk.
The exclusive business meetings were spearheaded by the DTI through the Philippine Trade and Investment Center-Jakarta (PTIC-Jakarta). The meetings were also a follow-up to the President’s State Visit to Indonesia, aimed to forge strategic linkages and partnerships between the Philippines and Indonesia in key sectors, such as agriculture, specifically animal vaccine manufacturing, digital technology, and innovation.
PT Vaksindo Satwa Nusantra noted they intend to cooperate with its local partner, Unahco Inc. (Univet Nutrition and Animal Healthcare Company) Philippines on veterinary vaccines and will infuse an initial USD2 million this year. They will soon provide the country with an avian influenza vaccine.
Another company, PT WIR Asia Tbk., whose subsidiary PT Mata Nilai Republik, plans to invest USD20 million in the next five years. WIR is an Indonesian publicly listed company that develops augmented reality (AR) technology integrated with virtual reality (VR) and artificial intelligence (AI). It is considered the first Metaverse company in Indonesia.
To enhance the supply of satellites in the Philippines, particularly, broadband technology and connectivity, the Philippine delegation also met with PT Pasifik Satellite Nusantara. The company reported to President Marcos Jr. the progress of their project in the Philippines and the launching of their satellite in December 2023.
Back in 2022 during the State Visit of President Marcos Jr. in Indonesia, the PT Pasifik Satellite Nusantara signed a Memorandum of Understanding (MOU) with a USD 350 million investment value and an allocation of 13.5 Gbps of bandwidth for the Philippines from a new satellite that PSN is scheduled to launch within the year. Through this development, the company also expressed its intentions to develop a bigger market for both the government and consumers in the Philippines.
“Through your committed investments in the country, we see you as our valuable partner in pursuing robust economic growth and expansion. We look forward to our strategic collaboration and partnership in creating a sustainable and innovative future for the region. As our Department continues to work on ensuring high-quality and better-paying jobs for Filipinos, we encourage you to Make It Happen in the Philippines,” Secretary Pascual said in closing.
