The Department of Trade and Industry (DTI) is conducting five major trade and investment missions in key cities in Asia and Europe for March and April, to tap new markets as well as pursue the bilateral talks and business initiatives held last year.
These missions will cover France, Japan, Malaysia, Indonesia and Singapore, said Trade Undersecretary Ponciano C. Manalo Jr.
According to Manalo, the delegations, which will also have representatives from business groups and local companies, may be as small as having only 15 members but can also be as big as 200 members.
This move was meant to help the Philippines latch on the expressions of interest to invest made by foreign companies during the DTI’s business missions last year. The government is also eyeing to tap new markets, companies and industries in a bid to make the Philippines their investment hub in the Asean.
The trade official further disclosed that they will also be going back to Indonesia and Malaysia immediately, following successful business missions held only last month.
“We will go back to Indonesia and Malaysia to follow up on some of the things we have pursued. We will conduct investment seminars in these countries, and we target some 150 to 200 people to attend,” Manalo said.
For Indonesia, the DTI wants to go back to talk to the private enterprises to discuss possible areas for cooperation and opportunities because the last visit was solely with the seven state-owned enterprises.
The DTI was able to secure “strong commitment” from these government-owned firms to look into several industries including banking and finance, palm oil and rubber plantations, energy (coal mining), as well as pharmaceuticals.
“We will be back in Indonesia before the Holy Week and we will offer the same opportunities to the private companies as we did with the state-owned enterprises, mainly for food, infrastructure, rubber and palm oil plantations,” he explained.
Malaysia, meanwhile, poses immense potential for investments that will boost the economy of Mindanao, particularly the [Autonomous Region in Muslim Mindanao]. Amy R. Remo