DTI goes to US to seek more investments

MANILA, Philippines—The Department of Trade and Industry (DTI) is set to embark on a promotions and marketing blitz in the United States to drum up more investments into the country.

Trade Secretary Gregory L. Domingo told reporters that he was set to visit the US this month as part of the Asean Ministers Roadshow, which seeks to present American investors with opportunities in the high-growth region.

Domingo said agriculture and tourism were two of the sectors that he and his team will promote among American investors.

“We used to be weak in manufacturing. The sector is showing recovery but we want more investments not only in manufacturing but also value-added production and other job-generating sectors,” Domingo said.

DTI’s marketing efforts would complement the promotional effect of recent and upcoming international events that the country will host in coming years, Domingo said.

After having hosted the ADB Manila meeting last year, next in line are the APEC, World Economic Forum, and Asean meetings.

“Many tourists and investors abroad still don’t know the Philippines or have a misinformed opinion of the Philippines. The key is to bring them here,” Domingo said. “The benefits are twofold. One is the media mileage the Philippines will get from hosting thousands of media and opinion leaders. The second is that those who visit the Philippines for the first time or who return to the country after long years of absence as they attend those events, their perception of the country is sure to be updated.”