Finnish firms express interest to invest in Phl

MANILA, Philippines - Seven Finnish companies are keen on investing in the Philippines, according to the Department of Trade and Industry (DTI).

 In a statement, Trade Undersecretary Ponciano Manalo Jr. said the Finnish companies interested to invest here are part of a business delegation which came to the country last month.

The Finnish delegation, led by FIM Asset Management chief executive officer Mikko Mursula, is composed of executives of pension and life insurance firms and investment service providers.

The Finnish business delegation visited the country to check out investment opportunities as a result of the high-level trade and investment mission of the DTI to Helsinki, Finland in October last year to promote the country as a viable investment destination.

“It was sort of an easy decision to link the Philippines in our agenda,” Mursula said, noting that his group chooses countries to invest in every year.

For this year, the group chose the Philippines and Hong Kong.

Among the factors that made them choose the Philippines are its strong economic growth and young population.

Aside from the Philippine Stock Exchange, the business process outsourcing and infrastructure sectors, Mursula said the group is also looking at other opportunities to serve the demand of more than 100 million Filipinos in the country.

“We read a lot about the Philippines before coming here. We know the basic facts. And now we just want to see if the facts are there and what are the future plans. And if the Philippines has the capacity to do all the investments that are needed to keep the economy going,” he said.

Manalo said the country’s economic gains and the current administration’s good governance efforts, along with the investment grade ratings received last year and improving competitiveness rankings are making the country an attractive destination for investments.

“We are not perfect but we have certainly gone a long way from where we were,” he said.

He said the government would continue to encourage more foreign firms to visit the country and to make investments here to create jobs and achieve inclusive economic growth.

The DTI is working to promote the growth of the different sectors through the industry roadmaps to generate jobs and support the growth of the economy.

“As far as the DTI is concerned, industrial roadmaps are critical in how we will be able to behave and work through different sectors all the way to 2030 and institutionalizing how we get there and what it takes to get there,” he said.