President Ferdinand R. Marcos Jr. witnessed the signing of five major agreements between private sectors from the Philippines and the US on Wednesday on the sidelines of his attendance at the 30th Asia-Pacific Economic Cooperation (APEC) Leaders’ Meeting and related activities in San Francisco, California.
Among these agreements are a memorandum of understanding between the Department of Science and Technology (DOST) and ATMO Inc. to build a high-resolution weather forecasting system for the Philippines using AI technology. It was signed by DOST Undersecretary Maridon Sahagun and ATMI Inc. Founder and CEO Alexander Levy.
A cooperation agreement was also signed between Ayala Corporation President and CEO Jaime Augusto Zobel de Ayala and Ayala Corporation Health CEO and President Paolo Borromeo, President and Managing Director of Seimens Healthineers Philippines Heinz-Michael Horst Schmermer and Advanced Oncology Solutions, Varian Vice President Chuck Lindley.
The parties will share their expertise in establishing and running the Philippines’ first dedicated specialty oncology hospital to ensure an efficient way of delivering services to patients in making cancer care more accessible to Filipinos.
Lloyd Laboratories’ representatives led by Dr. Lloyd Balajadia also 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 20M US dollars 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 ASTRANIS for the deployment of 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.
President Marcos, who witnessed the signing of the memoranda of agreement and understanding, said that all of them will play an important role in terms of 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,” President Marcos 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 … What we have witnessed today will bring us closer to our vision of a more prosperous and sustainable Philippines,” he added.
President Marcos assured both private and public partners in the Philippines and in the US of the government’s commitment to providing the necessary resources to ensure the success of the agreed partnerships.| PND
