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Manila Bulletin devider Philippines devider National devider Marcos bags climate, internet, energy, pharma deals in US trip

Marcos bags climate, internet, energy, pharma deals in US trip

Published Nov 16, 2023 07:23 am

At A Glance

  • President Marcos said they will play an essential role in promoting the country's climate resiliency, internet connectivity, clean energy, pharmaceutical manufacturing, and healthcare system.

The Philippines has secured five significant sectors with American companies during the sidelines of the 30th Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting in San Francisco on Thursday, Nov. 16 (Manila time).

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President Ferdinand 'Bongbong' Marcos Jr. (Malacañang photo)

President Marcos, who witnessed the signing of the agreements, said they will play an essential role in promoting the country's climate resiliency, internet connectivity, clean energy, pharmaceutical manufacturing, and healthcare system.

"They all hold a great potential for the Philippines to reshape its landscape of clean energy, healthcare, pharmaceutical manufacturing, internet and satellite technology, and climate technology," he said.

"The partnerships we celebrate today are manifests – that of the unwavering commitment of the United States and the Philippines in terms of collaboration, innovation, and progress. [They] will bring us closer to our vision of a more prosperous and sustainable Philippines," he added.

President Marcos assured private and public partners in the Philippines and the US of the government's commitment to providing the necessary resources to ensure the success of the agreed partnerships.

The first agreement signed was on building a high-resolution weather forecasting system for the Philippines using artificial intelligence (AI) technology. It was signed by Department of Science and Technology (DOST) Undersecretary Maridon Sahagun and ATMO Inc. Founder and CEO Alexander Levy.

ATMO is an AI meteorology company based in California.

A cooperation agreement was also signed to establish and run the Philippines' first dedicated specialty oncology hospital to ensure efficient delivery of services to patients in making cancer care more accessible to Filipinos.

This agreement was signed between Ayala Corporation President and CEO Jaime Augusto Zobel de Ayala and Ayala Corporation Health CEO and President Paolo Borromeo, Varian Philippines President and Managing Director Heinz-Michael Horst Schmermer, and Advanced Oncology Solutions, Varian Vice President Chuck Lindley.

Lloyd Laboratories' representatives, led by Dr. Lloyd Balajadia, signed an agreement with Difgen Pharmaceuticals LLC representative Mr. Ramandeep Singh Jaj for a collaboration on the filing of Abbreviated New Drug Applications (ANDA) and the marketing of jointly developed pharmaceutical products within the United States.

An investment of up to $20 million will also be undertaken by Lloyd Laboratories for the establishment and operation of the first US Food and Drug Administration (FDA)-approved manufacturing facility in the Philippines, contributing to the advancement of the Philippines' position as a key player in the global pharmaceutical industry.

Ultra Safe Nuclear Cooperation (USNC) representatives, led by its CEO Francesco Venneri, also signed an agreement with MERALCO on the conduct of a pre-feasibility study for the potential deployment of Micro Modular Reactors "to enforce the sustainable energy agenda and provide affordable and dependable access to power, particularly to the underserved and off-grid areas for economic empowerment."

An agreement between ORBITS and ASTRANIto deployof the first two internet satellites dedicated to the Philippines was also signed.

The agreement is expected to generate $400 million worth of investment over the next eight years through the MicroGEO satellites.

Related Tags

Bongbong Marcos invest in PH PBBM in USA President Marcos APEC 2023
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