By Kyle Aristophere T. Atienza, Reporter
ISRAELI companies are working on poultry and cacao projects in the Philippines, Israel’s ambassador to Manila Ilan Fluss told BusinessWorld on the sidelines of a greenhouse launch in Bulacan province.
He said Israeli companies are also exploring investments in healthcare, software, and telecommunications.
Israeli investors need to branch out overseas because of the small domestic market, Mr. Fluss said.
“The mindset of an Israeli businessman is international because the domestic market is not so big,” he said. “So, we always look at the international market when we need to grow,” he added.
“Israeli companies realize that the Philippines is a major market, and it’s a country where there are so many opportunities,” he added.
Mr. Fluss said one of the major challenges for Israeli companies seeking to do business in the Philippines is identifying a “solid” partner.
Seven Israeli business delegations visited the Philippines in 2024, representing the agriculture, water, cosmetics, and wine industries, as well as companies specializing in cybersecurity and disaster preparedness, he noted.
Israeli Foreign Minister Eli Cohen in 2023 told President Ferdinand R. Marcos, Jr. that the Philippines and Israel can collaborate in water management, given Israel’s expertise.
“We would like to do more sharing of best practices (via) government-to-government (negotiations),” Mr. Fluss said.
The two countries’ bilateral trade hit $532 million in 2023, against $534 million a year earlier.
Israeli exports to the Philippines in 2023 were valued at $349 million and included integrated circuits, vessels, and armored vehicles.