More EU-based businesses are interested to invest in PH, says Diokno
MANILA, PHILIPPINES — Several European businesses have shown interest in investing and expanding in the Philippines, said Department of Finance (DOF) Secretary Benjamin Diokno.
Following a three-day working visit to Brussels, Belgium, Diokno stated that businesses engaged in “renewable energy generation, waste-to-energy projects, IT-BPM, disaster-resilient infrastructure, and technical education” are keen to invest or explore joint ventures in the country.
Diokno was part of the Philippine delegation led by President Ferdinand “Bongbong” Marcos Jr. With the goal of strengthening Philippine-EU relations, the delegation showcased various investment opportunities in the Southeast Asian nation.
Among the companies that the delegation met, British multinational consumer goods company Unilever expressed its intention to establish a state-of-the-art manufacturing facility for personal care products in Cavite.
The plan is expected to generate around P4.7 billion in investments and provide employment opportunities to around 130 Filipinos.
At the same time, French multinational company Ocea shared its plans to develop a shipyard in the Philippines with an investment of P1.5 billion. The plan is expected to create 500 to 600 direct and indirect jobs in the country.
The delegation also discussed potential investments in the energy sector with Spanish multinational firm Acciona and France-based logistics hub management company Semmaris.
The working visit concluded in a roundtable meeting with the Confederation of European Business.
