Mexican firms eye Phl

MANILA, Philippines - A number of Mexican firms are eyeing to invest more in the Asia Pacific market including the Philippines amid positive growth prospects, an official said.

“Mexican companies are believing in the change that is taking place in the Philippines right now,” Mexican trade commissioner and deputy chief of mission Christian Clay-Mendoza said, in a statement.

“Mexico’s relations with the Philippines in particular have a lot of room for growth,” he said.

The official noted that while there already exists Mexican-Filipino business ventures, there are still opportunities yet to be explored between the two countries.

Among Mexican firms doing business in the Philippines is Cemex Corp., a dominant player in the local cement market.

Coca-Cola FEMSA, S.A.B. de C.V. of Mexico, the largest franchise bottler of Coca Cola products recently completed its acquisition of a 51 percent stake in Coca-Cola Bottlers Philippines Inc. The acquisition is the firm’s first outside of Latin America.

Clay-Mendoza said Philippine firm International Container Terminal Services Inc., meanwhile, has huge investments in Manzanillo, Mexico’s leading Pacific port.

“These are interesting movements by the big companies or players. We would like also to come in to medium and small enterprises and we would like them to get to know each country,” he said.

He said Mexico is interested not just in the Philippines but in other countries in the Asia Pacific as well given positive growth prospects in the region.