Roadshows in Italy to promote investments in Phl

MANILA, Philippines - The Italian Chamber of Commerce in the Philippines organized with the assistance of some senior Philippine government officials, from DTI and BOI, a series of meetings with the Chambers of Commerce of Milan, Padua and Turin and the Italian Association of the Foreign Chambers of Commerce and Industry in Rome from June 21 to June 27, 2011.

ICCPI president, Armando De Rossi said that the delegation headed by Roberto Fazzini, president of Italfood Distributors and vice president of the Chamber in Manila, was composed of one of the directors of The Asian Development Bank, Michele Fulcis, the Italian Ambassador to the Philippines Luca Fornari, Italian Trade Commissioner for the Philippines Massimiliano Sponzili and a representative from ECCP.

More than 150 Italian chief financial and senior executives confirmed their participation in meeting with the delegation and discussed investment opportunities. Among the key industries that the Italians expressed great interest in investment are in the new renewable energy sector such as in the wind power development in Puerto Galera, Mindoro, mini hydros also in Mindoro, tourism, agriculture, infrastructure and manufacturing.

This promotion of the Philippines as an investment destination is of particular interest to the Italians in view of the qualified availability of highly technical and professional human resources, of the stable political environment of several government fiscal incentives, and the existing strong positive and constructive cultural, religious and historical relationship between the Filipinos, more than 300,000 in Italy, and the Italians.

De Rossi said, “the roadshow will present the various opportunities and incentives granted by the Philippine government to the Italian investors.” In fact several companies have already invested in the Philippines in the hospital and tourism industries in various parts of the country such as Bohol, Cebu, Puerto Galera, Palawan in the furniture manufacturing, an Italian-Filipino company PHESI (www.phesi.net) has invested heavily in the renewable energy, in the construction, food and beverage industry.

The Italian Chamber of Commerce in the Philippines (www.iccpi.org) was established by group of Italian and Filipino companies with mutual vision and interest in developing various opportunities for a strong beneficial business relationship between the two countries.