MOSCOW – The group of business tycoon Manuel V. Pangilinan will scout for possible partnerships in Russia to further grow its various businesses, a ranking group official said.
MVP Group spokesperson Michael Toledo, who is part of the Philippine business delegation to Russia joining President Duterte in his official visit here, said he is tasked to look for possible partners for their different businesses.
The conglomerate’s different businesses include mining through Philex Mining Corp; infrastructure and tollways through Metro Pacific Investments Corp.; telecommunications through PLDT; water through Maynilad Water Services Inc.; and media through MediaQuest Holdings.
“I’m representing the group to see where we can participate in President Duterte’s visit. Russia has a lot of oil and gas so we’d like to see how we can take part,” Toledo told The STAR.
He said the group is open to exploring partnerships with Russian companies, especially those in oil and gas, mining and infrastructure.
He added the group wants to support the Duterte administration’s moves to strengthen ties with countries not among the Philippines’ traditional trading partners.
“There was a warming up with relations with China so this could be similar,” Toledo added, expressing optimism on the positive outcome of President Duterte’s trip here.
The MVP Group has always been open to partnering with foreign companies, especially technical experts, on its various projects in the Philippines.
It has also been wanting to move forward with its oil and gas business.
Pangilinan said in a forum last Friday the Philippines could have a fourth engine, which is gas from South China Sea.
“It is imperative we start looking for sources of alternative gas now. We simply cannot leave with the three plants we have. We don’t know if there are resources in South China Sea and if we can enter,” Pangilinan said.
Toledo said Foreign Affairs Secretary Alan Cayetano has clarified “the Philippines is a friend to all and an enemy of none.”
This means because of improved ties with Russia, companies here may be looking at better investment opportunities and new partners in the Philippines.
While there are no specific Russian companies in mind, Toledo said the MVP Group is always on the lookout for business opportunities and possible partners.
Duterte will be in this country this week for an official visit to usher in a new chapter in Philippines-Russia ties.
Government officials hope to be able to discuss deals on security, military cooperation, trade and investments, science and technology and tourism, among others.
Aside from the MVP Group, over 200 local businessmen are joining the delegation.
Among those in the business delegation list released by the Department of Trade and Industry are Sabin Aboitiz, executive vice president of Aboitiz Equity Ventures; Walter Brown, chairman emeritus of A Brown Co. Inc.; Jose Leviste Jr., chairman of AG & P; Bernard Dy, president and CEO of Ayala Land Inc; Jorge Consunji, president and CEO of D.M. Consunji Inc.; Fernando Martinez, chairman and CEO of Eastern Petroleum Group of Companies; Jose Concepcion III, president and CEO of RFM Corp. and Presidential Adviser for Entrepreneurship; Manuel V. Villar, chairman of the Villar Group and Michael Tan, president of LT Group Inc.