News

Gov't Reps to Promote Non-PPP Projects in China, Korea, Australia

May 25, 2011 News

Government representatives will be in China, Korea, Australia, and Europe to pcomote the Philippines and capitalize on the renewed interest of foreign investors in the country.

In an interview with reporters, Trade assistant secretary Felicitas A. Reyes said they will head to China and Korea at the end of the month to promote non Private Public Partnership (PPP) projects.  PPP projects are those identified by the Aquino administration as priority infrastructure projects which were launched last year.

Reyes said economic managers went to China earlier to promote the PPP and there was much interest in other areas Reyes will be with Board of Investments BOI managing head Cristmo L. Panlilio in the missions.

In China, Reyes said they will go to Shanghai and Beijing.  They will be there from May 31 to June 3.  Before that, they will be in South Korea for a day.  The trip to Korea is in time for the local investment conference there and this will be undertaken together with the University of the Asia and the Pacific (UAP).

"The interest is in construction and power and wewill go back to talk to them," she noted.  In China alone, Reyes said they will have 26 meetings, 13 in Beijing and 13 in Shanghai.  Another industry that is interested in locating here is the automotive industry.

For the European leg, Reyes said they were invited by the Italian embassy and they will be there with the European Chamber of Commerce of the Philippines (ECCP).

"There are investment leads in Milan.  We will go to Amsterdam and the Netherlands." Reyes said.  "There are many Filipinos in that area but the locals there are not aware of the Philippines.  They do not know that it is a good investment destination.  In Italy there is a lack of awareness." 

She said in Italy they have good technology for small and middle sized enterprises.  She said the SME factories for shoes and fashion produce the most glamorous products.  She said the Philippines can attract some of these customized production.

Reyes said the goal of the trade missions was to reach investors that they have not reached before. Reyes said they would like to spread the word of the good economic fundamentals in the Philippines.  The tentative schedule of the European trip is end of June to the first week of July.

 

Source: The Philippine Star; Business; 25 May 2011