Summary
PT WIR Asia Tbk will open an augmented reality or metaverse business in the Philippines. The Philippines Department of Trade and Industry (DTI) informed to have met with WIR Asia representatives in Jakarta. WIR Asia will assign one of its subsidiaries in the Philippines with an initial projected investment of US$20 million in 2022.
“It is encouraging to see that despite the limitations brought by the global pandemic, we managed to maximize our partnerships with our neighboring countries and the entry of foreign investments to the Philippines,” the Philippine Trade Secretary Ramon Lopez said, as quoted by The Manila Times on Thursday. According to Lopez, WIR Asia will be the first metaverse company in Indonesia to open an office in the Philippines. The expansion will be carried out through the acquisition and investment of local companies in the country. Meanwhile, WIR Asia corporate secretary Ira Yuanita said that the company had no plan to expand to other countries soon. The company focuses on working on ongoing projects. “But we are open to international expansion,” she said.
Source: https://dinsights.katadata.co.id/read/2022/05/20/wir-group-expands-augmented-reality-business
