THE city government of Pasay and the Indonesian Government have entered into a Memorandum of Understanding (MOU) on Friday that will foster stronger economic ties between the two countries.

Pasay City Mayor Emi Calixto-Rubiano said the MOU signifies a multi-billion foreign investment commitment from the Indonesian business community, marking a significant step towards sustainable business growth and economic prosperity in the Philippines.

Mayor Emi said the collaboration is projected to contribute significantly to the country’s economic expansion, with forecasts indicating a potential 6% increase in the country’s gross domestic product (GDP).

“The investment is also expected to stimulate the local economy of Pasay City, boosting local businesses and creating a ripple effect of positive economic activity,” the mayor said

The Expedia Management Inc., a local investment company with a branch office in Indonesia, was represented by Edgardo Rubiano, the husband of the city mayor.

Mr. Rubiano said the MOU represents a significant milestone in strengthening the Philippines-Indonesia economic relationship and the projected six percent GDP growth underscores the potential transformative impact of the partnership.

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Edd Reyes