5 big business missions expected to visit Phl this mo

MANILA, Philippines - Five big business missions are expected to visit the country this month until April as a result of roadshows conducted by the Department of Trade and Industry (DTI) last year to drum up investor interest.

Trade undersecretary Ponciano Manalo Jr. told reporters the business missions, expected to arrive within the March to April period are from countries in Europe and Asia visited by Trade officials last year to promote the Philippines as an investment destination.

In particular, the expected business delegations are from France, Japan, Malaysia and Singapore.

“The smallest (of these business missions) has 15 to 20 members in the delegation while the biggest has 200 members,” Manalo said.

In February, a Finnish delegation led by FIM Asset Management chief executive officer Mikko Mursula and composed of executives of pension and life insurance firms and investment service providers came to the country following the high-level trade and investment mission of the DTI to Helsinki in October last year.

While there are business missions expected to arrive here, the DTI still intends to travel to other countries to strengthen its investment promotion efforts.

“(We will visit) the usual suspects, Japan, Korea and Europe,” Manalo said.

He said the DTI also plans to join Philippine Ambassador to the US Jose Cuisia in his trips aimed at promoting the country as a place for business.

He added that Trade secretary Gregory Domingo is going to participate in roadshows of the Association of Southeast Asian Nations Economic Ministers.

“This (investment promotion) has to be continuous... to be able to talk about opportunities,” he said.

The government is encouraging foreign firms to invest in the country, particularly in the manufacturing sector to be able to provide employment to more Filipinos and achieve inclusive economic growth.

Earlier, Manalo said the DTI is aiming for a 10-to 15-percent growth in the number of visiting foreign companies and in-bound business missions this year as the government actively pursues investment promotion efforts.

A total of 638 foreign companies visited the DTI last year, higher than 2012’s 509.

In terms of in-bound missions, the DTI accepted 210 last year, the highest number recorded so far.