DTI to hold investment roadshow in Europe

MANILA, Philippines — As part of the government’s efforts to attract foreign investments, Trade Secretary Alfredo Pascual is leading a three-week investment roadshow in Europe from June 18 to July 6, the Department of Trade and Industry (DTI) announced yesterday.

“Organized by the DTI and the Board of Investments (BOI), in collaboration with the Philippine Trade and Investment Centers (PTICs) in Europe, the roadshow aims to position the Philippines as a viable investment destination for priority markets in Europe such as France, United Kingdom, Belgium, the Netherlands, and Germany,” the DTI said yesterday.

It said the roadshow would put strong emphasis on priority sectors, such as manufacturing and research and development (R&D), higher value services, and renewable energy to showcase how the Philippines can make it happen for European investors.

France is the first stop of the roadshow from June 18 to 21, in parallel with the 10th Philippines-France Joint Economic Commission meeting.

This will be followed by the United Kingdom on June 21 to 23, Belgium on June 25 to 28, The Netherlands on June 29 to July 1, and Germany on July 3 to 5.

“As part of the roadshow, investment fora in Belgium and Germany, as well as roundtable discussions with business communities in France, UK, Belgium and the Netherlands will be conducted to reinvigorate the interest of European investors and to apprise them of the current economic performance, advantages, and opportunities for investments in the Philippines,”the DTI said.

According to the DTI, the outbound mission will also be a chance to generate fresh investment leads or forward discussion with existing leads, especially those that Pascual met during the last Presidential Visit in Brussels and side mission to the Netherlands in 2022.

Participants and attendees during each leg will have the opportunity to engage in panel discussions and information sessions on various investment-related topics presented by Philippine government officials and industry experts.

“They will be sharing valuable insights into the potential of the priority sectors, shedding light on the favorable business climate, regulatory frameworks, and attractive investment incentives in the Philippines,”the DTI said.

According to the DTI, the sessions aim to assist participants in identifying investment prospects and exploring mutually beneficial growth opportunities.

The Philippine delegation will also provide updates to the European business community on significant legislative developments in the Philippines such as amendments to the Public Service Act (PSA), Foreign Investment Act (FIA), Retail Trade Liberalization Act (RTLA), the passage of the Electric Vehicle Industry Development Act (EVIDA), and the Executive Order (EO) on Green Lane for Strategic Investments.

“The Europe Investment Roadshow not only reflects the Philippines’ dedication to attracting foreign direct investments, but also serves as a dynamic platform for participants to foster strategic partnerships, engage in meaningful dialogue, and explore potential avenues for expanding their businesses,”the DTI said.

Latest figures from the BOI showed that BOI approved foreign investments skyrocketed by 7,076 percent to P430.86 billion from January to May compared to last year’s P5.63 billion. This accounts for bulk or 76 percent of the P532.3 billion total investments it approved in the period.

Earlier this month, Pascual said he would visit Belgium this month to follow up on the renewal of the EU Generalized Scheme of Preferences Plus (GSP+), as well as the resumption of negotiations for a Philippines-EU free trade agreement (FTA).