Trade and finance officials will travel to Europe next month for a series of roadshows with the goal of attracting more investments to the Philippines, a trade official told reporters over the weekend.
“What we expect to get out of that is renewed interest in the Philippines as for a while, because of the economic difficulties in Europe, we have not been able to reach them,” said Trade Undersecretary Ponciano Manalo Jr.
“This is the chance for us to re-establish our presence in their minds so that they will come here.”
The delegation, which will first go to the UK on Oct. 2 and 3, includes Finance Secretary Cesar Purisima, Trade Secretary Gregory Domingo, Bangko Sentral ng Pilipinas Deputy Governor Diwa Guinigundo and Public-Private Partnership Center executive director Cosette Canilao. Representatives from 23 companies, including Shell Philippines, HSBC and Standard Chartered Bank, will also be part of the group.
"Europe is undergoing financial difficulty but that doesn't last forever. So we want to establish ourselves early," said Manalo. He added that he will go to Germany for the Anuga food fair, which will feature at least 15 Filipino firms, and to Sweden and Finland.
Philippine Economic Zone Authority (PEZA) Director General Lilia de Lima will go to Denmark and Norway to promote investments in the information technology sector here.
According to data from the National Statistical Coordination Board (NSCB), total foreign investments approved by the country's investment promotion agencies increased 126.9 percent to P93.4 billion in the first half of 2013 from the P41.2 billion in the same period last year.
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