The Malaysia Chamber of Commerce and Industry (MCCI) in the Philippines and the Philippine Guarantee Corporation (PhilGuarantee) signed a Memorandum of Understanding (MOU) at the Embassy of Malaysia in Makati City on Monday, 14 July.

The MOU aims to support and enhance financial and investment opportunities for Malaysian businesses operating in or planning to enter the Philippine market.

The signing ceremony was graced by His Excellency Ambassador Dato’ Abdul Malik Melvin Castelino, Ambassador of Malaysia to the Republic of the Philippines; prominent representatives from Maybank Philippines, CIMB Bank Philippines, and BDO Unibank; as well as Ms. Annie Andanar, MCCI Board Adviser, along with the MCCI Board of Directors, Executive Committee, and members of the Malaysian business community.

MCCI President How Han Hui believes that by leveraging the credit guarantee program, they will be able to explore more opportunities in the Philippines, particularly in sectors such as agriculture and infrastructure. They also look forward to developing housing and real estate synergies to benefit Malaysian developers and property investors.

“MCCI will be our sister in navigating the Philippines’ guarantee requirements. We look forward to aligning the MCCI network in creating multiple effects to strengthen benefits between the two nations — Philippines and Malaysia,” Hui added.

MCCI in the Philippines is a non-stock, non-profit organization that serves as a key platform for Malaysian businesses operating in the country. It promotes bilateral business collaboration, facilitates market access, and supports the growth of Malaysian-owned enterprises.

PhilGuarantee President Alberto Pascual said that through this partnership, they can create meaningful opportunities for businesses and promote cross-border collaborations that contribute to the broader economic development agenda of both countries.

“This is not just a ceremonial signing. This is marked as the beginning of a dynamic and mutually beneficial relationship anchored in trust, shared goals, and commitment to support our respective communities,” Pascual added.

PhilGuarantee is a government-owned and controlled corporation under the Department of Finance, mandated to provide credit guarantees that support economic development and inclusion by enabling MSMEs, exporters, farmers, and investors with enhanced credit access.

Ambassador Castelino emphasized the significance of the partnership, noting that Malaysia is the Philippines’ 9th largest trading partner for investments.

He also highlighted the benefits of the partnership for MSMEs, noting that 312 enterprises have already received support from PhilGuarantee—an important intervention for a sector that often has limited access to domestic credit. He stressed that MSMEs deserve more attention, as they comprise 97 percent of businesses in both Malaysia and the Philippines.

“We are not simply building economic ties; we are shaping future mutual benefit and prosperity,” Castelino added.