German companies urged to invest in PH

The Philippine government is urging German investors to further diversify its markets and consider the Philippines an alternative source of imports and a haven for fresh investments.

In a statement, Philippine Ambassador to Germany Maria Cleofe Natividad said the government was working on establishing deeper economic linkages with Germany, which must also position itself for the eventual formation of the Asean common market by 2015, when member-countries will break down the remaining tariff and non-tariff barriers between each other.

According to Natividad, the target of German businesses are small and medium enterprises (SMEs) that are mostly family-owned.

Natividad and four German honorary consuls led the “2012 Team Philippines-Germany,” composed of German business leaders and representatives who visited the country recently to explore possible business opportunities here.

Natividad said the “group’s experience here so far has been educational and awakening for the Germans, some of whom are in the Philippines for the first time to experience hands-on the actual conditions and investment potentials in the country, as well as establish networks with business stakeholders from the government and the private sector.”

She hailed “the unwavering support of the German group (for the Philippines), despite the difficulties and challenges they (currently) face.”

In the meantime, the German business delegation was reportedly inspired by President Aquino’s “sincerity to effect the necessary reforms that will make the country more investment-friendly, thus preventing past mistakes from happening again, including the controversial Fraport issue that has affected for a while relations between both countries.”

The German visiting group was likewise impressed with the attractive accomplishments of the Philippine Economic Zone Authority under Director General Lilia B. De Lima, who gave a presentation in a gathering with SGV chair emeritus Washington Sycip.