CEBU, Philippines — Spanish investors are now looking at the Philippines as another fertile ground for offshore investments.
In his recent visit to Cebu, Spanish Ambassador to the Philippines Jorge Moragas Sanchez said that the Philippines’ decision to spend heavily on infrastructure through the “Build-build-build” program heightened the interest of Spanish investors to look at the Philippine closely, particularly in providing services and products in improving water supply, water treatment, building bridges, roads, railways, among others.
Engineering companies in Spain are now starting to explore opportunities of partnerships with Filipino capitalists or perhaps participate in the public-private-partnership (PPP) programs to take advantage of the country’s fertile ground for business.
The Ambassador mentioned that it is not only investors from Spain who are eyeing the Philippines now, but also other big companies from the European Union ((EU) countries.
Aside from ample opportunities for infrastructure-related businesses, other industries in Spain are also interested to enter the Philippines because of the country’s promising economic outlook.
According to Ambassador Sanchez, the Philippines’ young population makes it more attractive to investors outside including Spain and the rest of the EU member countries.
Sanchez was in Cebu recently with Rafael dr Bustamante of the EU Delegation to open the Cine Europa film festival at the SM City Cebu last October 3-6, which showcased 12 movies from EU member countries.