Malaysia’s largest legal services company, Zico Law, has made its debut in the Philippines at the BGC Corporate Center, Bonifacio Global City (BGC) in Taguig City.
The development made Zico Law the only law firm in Southeast Asia present in the 10 member countries of the Association of Southeast Asian Nations (ASEAN).
In his visit to the Philippines last week, Malaysian Trade Minister of International Trade and Industry Mustapa Mohamed said the opening of Zico Law here reflects the growing investments of Malaysian businesses in the country. And that aside from investments, the Philippines and Malaysia strengthen their partnerships in development of halal industry here, infrastructure, and enhancing the role of micro, small, and medium enterprises.
Data from the ASEAN Statistics showed that Malaysia is the country’s third largest source of foreign direct investments (FDIs) from ASEAN amounting to USD44.3 million in 2016 — behind Thailand with FDI to the Philippines at USD53.9 million and Singapore with USD429.8 million.
On the other hand, FDI inflows from the Philippines to Malaysia in the same year only pegged at around P450,000.
Source: Philippine News Agency