More investments seen coming to Phl

WEF drums up interest in rising SEA star

MANILA, Philippines - Foreign companies and local government officials, fresh from sharing insights during last week’s World Economic Forum (WEF), expect more investments and increased business exposure in the Philippines, one of the fastest growing economies in Southeast Asia.

With foreign investors’ interest in the Philippines already drummed up, local counterparts and government executives will likely conduct follow-up meetings to present specific investment opportunities even as calls for regulatory reforms remain strong.

“Obviously, as we heard in the discussions, there is a huge opportunity for more investment in the Philippines. We’re committed to be as helpful as we can in enabling that investment,” Michael S. Whalen, vice president for Structured Finance of US-based Overseas Private Investment Corp. (OPIC), said in an interview.

Whalen said OPIC, which has supported more than $200 billion investment in over 4,000 projects through investment guarantees and project loans to US firms, said US investors are encouraged by the strong economic growth in the Philippines.

Ho Hsing-Chan, Du Pont Co. Pte. Ltd., group managing director for ASEAN said, the robust economic growth provides an opportunity to boost the firm’s agriculture and food ingredients business.

Du Pont has been in the Philippines in the past 40 years, particularly in the agriculture sector through high-yielding rice seeds and industrial chemicals. But the expansion of food processing companies will increase sales of Du Pont’s healthy packaging and food enzymes, Ho said.

“We believe in the fundamentals of the Philippines, its a long-term growth...we will continue to invest in consumer-oriented sectors, logistics, manufacturing, healthcare and education,” said Omar Lodhi, partner at private equity firm The Abraaj Group that manages $7.5 billion in assets in Asia, Middle East and North Africa, Turkey, Sub-Saharan Africa and Latin America.

The Abraaj Group has invested more than $200 million in the Philippines’ consumer and retail space, including casual dining chain Pancake House, in the past 10 years.