As more Israeli companies set their sights on the Philippines, Israel is eyeing an agreement for reciprocal protection of investments with the Philippines
Ambassador of Israel to the Philippines Ephraim Ben Matityau said the investment protection agreement ensures that any investor that comes to the Philippines or Israel will be protected fully by laws and regulations.
“We are just rolling in. Next week, we are going to have joint cooperation meeting where we are going to raise this kind of dialogue between the two governments,” he said in an interview on the sidelines of Israel Chamber of Commerce of the Philippines general membership meeting on Thursday.
Matityau noted Israel has already forged such agreement with other countries.
“This is a very, very popular agreement for most countries. Any bilateral economic relationship will always have an investment protection. These are basic agreements (that underline) the spirit of cooperation and exchange because otherwise, people are a bit concerned when they come to a country where you don’t have a legal framework of protection,” he explained.
The ambassador noted that such agreement is imperative as more Israeli companies are looking at investing in the Philippines, which they believe offers enormous opportunities for many investors.
“(But) you have to make sure you create the infrastructure and the incentives because this is not just that you sit back and enjoy people coming here… The opportunities are there but you have to deal with the obstacles,” he added.
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