Israel explores Phl prospects

By Mary Grace Padin (The Philippine Star) Updated February 24, 2017 – 12:00am http://www.philstar.com/business/2017/02/24/1675121/israel-explores-phl-prospects MANILA, Philippines – Israel is currently exploring possible investment opportunities in the Philippine information technology sector, as well as ways to expand its support to the country’s agriculture sector, the Department of Finance (DOF) said yesterday. In a recent meeting, Israel Ambassador to the Philippines Ephraim Ben Matityau informed Finance Secretary Carlos Dominguez of the possible investments being eyed by some Israeli companies in the local business process outsourcing industry and private startups in the IT sector. He also proposed to expand Israel’s exchange program for Filipino agricultural students to educate them on Tel Aviv’s practices and technologies in agriculture. Matityau said the program, which he had piloted with the Commission on Higher Education aims to train Filipinos in utilizing Tel Aviv’s technologies that have made agriculture a profitable business for some Israelis. Under the program, 550 college students from 29 agricultural schools outside Metro Manila will be sent to Israel each year to participate in the training program. The agreement on technical cooperation in the field of agriculture between Israel and the Philippines dates back to 1964. Dominguez, for his part, assured the Israel government of his support for the possible investments to be made by the Israeli companies. He also emphasized the need to explore financial cooperation agreements between the two countries to facilitate trade and investments via Ashra, Tel Aviv’s export credit agency.