Singapore firms eye local investments

MANILA, Philippines—Eighteen Singaporean companies were in the Philippines last week to explore more investment opportunities in food and beverage retailing, franchising, and distribution in the domestic market.

Eighteen Singaporean companies were in the Philippines last week to explore more investment opportunities in food and beverage retailing, franchising, and distribution in the domestic market. Included in the delegation were representatives from Singaporean companies that already have a presence in the Philippines, such as Breadtalk (in photo), Bee Cheng Hiang (barbecued meat) and Super Bean (soya bean food and beverage). PHOTO FROM BREADTALKME.COM

A document from the Department of Trade and Industry showed that the business mission comprised 25 representatives from these companies, which are mainly engaged in food and beverage manufacturing and services, and four officials from the state-run International Enterprise (IE) Singapore.

Included in the delegation were representatives from Singaporean companies that already have a presence in the Philippines, such as Breadtalk (bread and coffee shop) and Bee Cheng Hiang (barbecued meat), Super Bean (soya bean food and beverage).

“The mission was very keen on exploring opportunities in the food and beverage retailing, franchising and distribution in the Philippine market. Most of the participating companies expressed serious interest to collaborate with local partners. Those with existing local presence were eager to pursue further expansion of their businesses,” the DTI briefer stated.

“The Board of Investments organized the investment briefing to provide information on the Philippine advantages and the applicable regulatory framework for the proposed business activities of the participants.  Participants to the investment briefing included representatives from the Securities and Exchange Commission, Food and Drugs Administration, DTI-Export Marketing Bureau, and Philippine Franchise Association,” it further said.

It was only last month that the Philippines hosted 14-member business delegation, led by the Singapore Business Federation (SBF) and supported by IE Singapore. This mission was conducted largely due to the Philippines’ strong economic performance in recent years, which “reignited interest among Singapore companies to explore the Philippines market.”