Israel, which is engaged in a long-running war against militant group Hamas, sees potential in growing its economy through investments and business expansions in the Philippines, according to Ambassador of Israel to the Philippines Ilan Fluss.
In a chance interview on Tuesday, March 25, Fluss explained that the ongoing conflict is not a barrier for Israelis doing business in the country.
He said the Middle Eastern country is always on the lookout for international markets where its private sector can thrive, given that its domestic market is “limited.”
The Philippines is one of these markets where Israeli investors see many business opportunities, driven primarily by its talented pool of potential workers, combined with its vast population.
“Being a country of 115 million people, so a lot of consumers, a lot of challenges, which means a lot of opportunities,” Fluss explained.
The envoy noted that creating more awareness and interest in the Philippines is his top priority with these opportunities at the ready.
He recalled that seven business delegations from Israel visited the country last year, which implies a growing appeal.
On Tuesday, Israel-based agribusiness company LR Group joined Metro Pacific Agro Ventures Inc.’s (MPAV) launch of the More Veggies Please brand as the main provider of its farm technologies.
This is expected to be the first among many Israeli companies looking to expand in the country’s agriculture sector.
Fluss said they are particularly keen on partnering with Filipino firms for “big projects” in the poultry and cacao industries.
Other sectors that could also drive Israeli investments are telecommunications, software, medicine, cybersecurity, emergency preparedness, cosmetics, and wine.
For the time being, the ambassador said what his office is focusing on is making sure that investors benefit from ease of doing business.
He explained that the time to get a business or project off the ground takes more time than what is necessary.
Since Israel’s latest campaign against Hamas started in 2023, the economic movement between the Philippines and the former is now “gaining momentum.”
Fluss said Filipinos are slowly visiting Israel more often, while the same can likewise be said about Israelis visiting the country.
“So I don't think the war is an issue. For me, I would say to the contrary…because of the war, we need to help the Israeli economy,” the official said.
“And that's the best way for me as an ambassador to help the Israeli economy, is through opening new opportunities, which are good for Israel and are good for the Philippines,” he added.