Department of Trade and Industry (DTI) Secretary Alfredo Pascual has invited German firms to consider the Philippines as their next investment destination as their government urged them to diversify businesses.<\/p>\n
In a statement Thursday, the DTI said Pascual has met with 50 German firms, including senior executives of Siemens AG, Gamigo Group, Nivus GmbH, Continental AG, Lufthansa Group, Messer Group, Allianz SE, Telstra Limited, Bayer AG, Bauer Spezialtiefbau Gmbh, Synolytics GmbH, Pepperl + Fuchs, and Voith GmbH in an investment forum in Berlin on July 3.<\/p>\n
\u201cThe Philippines is aware of and offers unique advantages to support Germany\u2019s aspirations for \u2018diversification and de-risking,\u2019 which are central to the long-term plans of the current German government,\u201d he said.<\/p>\n
Germany was the last stop of the Philippine delegation that traveled to Europe for a three-week investment roadshow, pitching the Philippines as an investment destination for European businesses.<\/p>\n
The trade chief also met with Association of German Chambers of Industry and Commerce member of the executive board Volker Treier and Germany\u2019s Electronics and Digital Industries Association president Gunther Kegel to invite German enterprises to explore opportunities in various sectors in the Philippines.<\/p>\n
\u201cAt the heart of our government\u2019s efforts to strengthen our economy is a focus on attracting investors, with the goal of transforming the Philippines into a thriving business hub in the Asian region,\u201d Pascual told German businesses.<\/p>\n
Among the sectors pitched to German investors are renewable energy, information technology and business process management (IT-BPM), high-tech manufacturing, and infrastructure.<\/p>\n
Pascual said the Philippine economy continues to thrive despite the global economic slowdown, as the gross domestic product (GDP) in 2022 posted a 7.6 percent growth, which is faster than the expansion of China and Vietnam.<\/p>\n
\u201cTo improve the business environment and attract more foreign investments, the Philippine government has set priorities that include developing infrastructure, streamlining the ease of doing business, implementing tax reforms, and promoting investment liberalization,\u201d he said. (PNA)<\/p>\n","protected":false},"excerpt":{"rendered":"
The Department of Trade and Industry invites German firms to consider the Philippines as an investment destination, highlighting economic growth and opportunities.<\/p>\n","protected":false},"author":73,"featured_media":249699,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19565],"tags":[],"class_list":["post-249698","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business-today"],"zyndk8_nxtgen_metadata":[],"_links":{"self":[{"href":"https:\/\/uptownmanila.com\/index.php?rest_route=\/wp\/v2\/posts\/249698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uptownmanila.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uptownmanila.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uptownmanila.com\/index.php?rest_route=\/wp\/v2\/users\/73"}],"replies":[{"embeddable":true,"href":"https:\/\/uptownmanila.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=249698"}],"version-history":[{"count":0,"href":"https:\/\/uptownmanila.com\/index.php?rest_route=\/wp\/v2\/posts\/249698\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uptownmanila.com\/index.php?rest_route=\/wp\/v2\/media\/249699"}],"wp:attachment":[{"href":"https:\/\/uptownmanila.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=249698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uptownmanila.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=249698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uptownmanila.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=249698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}