MANILA - Swedish investors are eyeing manufacturing projects in the Philippines, the Board of Investments (BOI) said on Monday.
The BOI recently hosted a Swedish business delegation, which included representatives from Atlas Copco, Celemi, Clean Motion, Comex International, Electrolux, Ericsson, Handelsbanken, Ikano, SEK, Tetra Pak, Volvo and the Swedish Foreign Trade Association.
“What is encouraging for us is the heightened interest of foreign investors in the Philippines. There is a solid stream of business missions coming in and we believe this is a vote of confidence in our government’s capacity to effect significant long-term structural and policy reforms,” Trade Undersecretary and BOI Managing Head Adrian S. Cristobal Jr. said in a statement.
During a trade and investments briefing, Swedish investors were encouraged to explore opportunities in agri-business, information technology-business process outsourcing (IT-BPO), public-private partnership (PPP) projects, renewable energy and tourism. “Strategic investments in these high-potential growth sectors, especially in manufacturing, generate employment opportunities and stimulate more development in the rural areas,” Cristobal said.
Swedish investments in the country from 2006 to September last year totaled P168.4 million.
“I believe that there is great potential for an increased bilateral dialogue between the Philippines and Sweden, and strengthened business and industrial relationships,” Eva Walder, head of the Swedish delegation and director general for trade of Sweden’s Ministry of Foreign Affairs, was quoted by the BOI as saying.
Swedish businessmen were also enjoined to source coffee, consumer jewelry, fresh fruits, giftware, home furnishings, organic foods, and processed fruits and marine products from the Philippines.
Last year, Sweden was the Philippines’ 34th-biggest trading partner, 32nd-largest export market and 35th source of imports with $161.48-million worth of trade.
Among the Swedish-led companies operating here are ABB Philippines, AstraZeneca, Ericsson Philippines, Lux Manufacturing, Magnitron Technology Philippines, SCA Hygiene Products and Swedish Match Philippines.
source: interaksyon.com
