Israel eyes Philippine market for business expansion

Israel sees potential in expanding its economy through investments in the Philippines despite ongoing conflicts with Hamas.

Ambassador Ilan Fluss of Israel highlighted that Israeli companies are actively pursuing projects in poultry and cacao, alongside exploring opportunities in healthcare, software, and telecommunications.

The Philippines offers significant business opportunities across various sectors, including agriculture, driven by a large population and skilled workforce.

LR Group, an Israeli agribusiness company, has partnered with Metro Pacific Agro Ventures Inc. (MPAV) for farm technologies, signaling more Israeli companies looking to invest in the country's agriculture sector.

Fluss emphasized that Israeli businesses need international markets like the Philippines due to a limited domestic market and identified identifying solid local partners as one of the main challenges.

Seven Israeli business delegations visited the Philippines in 2024, representing sectors such as water management, cosmetics, wine, cybersecurity, and disaster preparedness.

The two countries' bilateral trade reached $532 million in 2023, with Israel exporting integrated circuits, vessels, and armored vehicles to the Philippines.