Israel, EU seek to invest more in PH, says Binay

Vice President Jejomar Binay: Good prospects. INQUIRER FILE PHOTO

MANILA, Philippines—Israel and the European Union (EU) are looking to increase their investments in the Philippines given the positive global outlook on the country’s economy, according to Vice President Jejomar Binay.

Reporting on his visits to Israel and Europe in the last two weeks, Binay said government and business leaders he met with “expressed their admiration for the country’s impressive economic growth and are eager to expand development assistance and investments.”

Binay said Israel will send a trade mission to the Philippines early next year to pursue business partnerships, after the Vice President met with the Federation of Israeli Chambers of Commerce to share “ideas on how best to promote improved trade and economic relations.”

“As a result of that meeting, a large Israeli trade mission will be coming to Manila early next year to formalize contacts with potential partners,” he said.

Binay was in Israel on October 23-28. He met with Israeli President Shimon Peres and Foreign Minister Avigdor Lieberman.

He said the two officials “expressed high praise and high hopes for the Philippines, in light of its recent economic performance and its big domestic market based on its young, dynamic and educated population.”

Before flying to Israel, Binay was in Brussels, Belgium, where he met with officials and business leaders of the European Union on the sidelines of the European Development Days held on October 16-17.