Upbeat
No. 04.25.13 No. 2108 10.30.2008
Investments to pour in PHL The Department of Trade and Industry (DTI) is expecting to see surge in new or expanding foreign investments into the country as investors look at opportunities in various sectors like coco peat, automotive manufacturing, information technology (IT), food, and project management. For instance, the Netherlands-based Van der Knaap Group of Companies is expanding to the Philippines with an initial investment of USD 1M-USD 1.5M for the processing and marketing of coco peat in Davao Oriental. It targets to be a major exporter to the United States (U.S.), China, and Japan.
T rade and Industry Information Center Makati City, Philippines Tel.: (632) 895.3611 Fax: (632) 895.6487 publications@dti.gov.ph Copies available upon request.
“We can work with the DTI. The DTI can support a selected numbers of producers with the required machines to produce. We give the technology for them to process it and ensure the market. We kick start from here,” Van der Knaap Group’s Euro Substrates Ltd., Managing Director Dinesh Fernando said.
Meanwhile, Philippine Automotive Competitiveness Council Inc. (PACCI) Executive Director Ramon Vicente T. Kabigting said some Japanese firms are expanding their operations or are about to embark on new projects in automotive manufacturing. Kabigting cited Yazaki Torres Manufacturing is increasing by 30% its output of certain harness components for export while Mitsubishi has announced plans to step up production and assemble a new model and Toyota Motor Philippines Corp. is hiking assembly operations while mulling over plans to produce a small car model locally. On the other hand, Singapore Indian Chamber of Commerce and Industry (SCCI) Chairman Rangarajan Narayanamohan and Singapore Malay Chamber of Commerce and Industry (SMCCI) President Abdul Rohm Sarip led a business delegation from Singapore in exploring business and investment opportunities in the Philippines citing that now is the best time to invest here. “Now is the time to consider business opportunities in the Philippines considering its economic growth, particularly its 6-% gross domestic product (GDP) growth rate,” Narayanamohan said. In addition, Ireland is also looking at developing synergy with the Philippines and for projects on food sector, IT management and solutions, and project management, among others. Ireland Minister for Public Expenditure and Reform Brendan Howlin T.D. expressed confidence on the country’s economy and for the country “to continue to have sustainable reforms, that measures are in place to sustain the economic gains.”