Europeans to invest P62.8 B in Philippines – Noy

MANILA, Philippines - The Philippines got about P62.8 billion in additional investments with President Aquino’s weeklong trip to Europe following a meeting with top executives of five huge investors, mostly from France, when he attended the climate change summit for world leaders.

Aquino made the announcement in his speech upon arrival at the Ninoy Aquino International Airport Terminal 2 on Saturday, after his state visit to Italy and the reciprocal visit to the Vatican where he conveyed to Pope Francis Filipinos’ love for him.

Aquino said he met with executives of pharmaceutical company Sanofi Pasteur, Airbus, Cement Roadstone Holdings-France (CRH) which has partnered with cement firm La Farge-Holcim, coconut shell manufacturing firm Jacobi Carbons and Usine IO which created a high-tech toothbrush.

CRH, which has P60 billion in local investments in the cement industry, is planning to pour in P2.3 billion more and designate Manila as its “investment hub” in the 10-member Association of Southeast Asian Nations in the region.

CRH supplies raw materials and finished products for construction applications and distributes supply products to professional building contractors and homeowners.

Multinational Sanofi Pasteur, meantime, wants to release a vaccine in the country for four strains of dengue at a very reasonable price and at the soonest possible time in the local market. 

Aquino also met the officials of Airbus, who are willing to help the local aerospace industry.

The Airbus Group is composed of Airbus, which manufactures commercial aircraft; Airbus Helicopters and Airbus Defense and Space, which produces fighter jets, among others.

Its local subsidiary, Airbus Helicopters Philippines Inc. (AHPI), sells brand new and pre-owned helicopters and operates a service facility for helicopter maintenance and a training center for technicians.

Another good news from his Europe trip was the fresh investment of Jacobi Carbons, which recently launched and opened its manufacturing facility in Cagayan de Oro City in Mindanao, and whose investment is around P517 million.

“What they told me was that it has its biggest manufacturing plant in the world. Jacobi wanted to expand its operations in adding the processing of coconut shells as ingredients for its activated carbon filters,” Aquino said.

This will in effect generate a projected 2,850 jobs – directly or indirectly – that will benefit mostly local coconut farmers who will be giving a steady supply of coconut shells for the European firm.

Jacobi Carbons Group specializes in activated carbon derived coconut shell, various grades of coal and wood. The Sweden-based firm was founded in 1916.

The fifth company Aquino mentioned was Usine IO, whose innovation included the creation of a “smart toothbrush” that sends information to an app in a person’s smart phone, indicating whether his manner of brushing teeth is proper.

“This high-tech toothbrush was designed in France, but is made here in the Philippines by Filipinos,” Aquino said proudly.