Canada firms eyeing PH

Citing the Philippines’ huge potential as a market,  Canadian firms hoping to enter or expand operations in Southeast Asia are now considering the country to be a viable site where they can set up their regional headquarters.

Julian H. Payne, president of the Canadian Chamber of Commerce of the Philippines, said in an interview that Canadian companies have expressed greater interest in the Philippines and are looking at various industries here such as mining, banking and finance, insurance, transportation, infrastructure, construction and aerospace.

“The interest of Canadian companies is increasing because of the improvement of the Philippine economy. The Philippines is increasingly becoming a huge consumer market in its own right, and it is part of the Southeast Asia market, which is opening up,” Payne said.

The Philippines, he said, has some of the biggest advantages in the region because, apart from the country’s stellar growth, it also has a young and huge population of 100 million, which provides “fantastic opportunities” for growth. The country also boasts of literate English-speaking workers.

But for the Philippines to draw in more Canadian firms, the government must consider easing foreign restrictions, improving the ease of doing business in the country, curb corruption, and ramp up investments in infrastructure, Payne said.

Business delegations from Canada continue to arrive in the country, said Cora dela Cruz, CanCham executive director. Five missions arrived in the first half while two more are expected in the next two months.