French retail giant still keen on RP

French retail giant Carrefour S.A. is still interested in entering the Philippine retail market, French Ambassador Renee Veyret said over the weekend during a luncheon jointly hosted by the Philippine Chamber of Commerce and Industry and Le Club French Business Association of the Philippines.

"There is a possibility that Carrefour is coming back," Veyret said.

She admitted that Carrefour had looked at the Philippines twice before, but failed to push through with its plan because of the "political and security problems."

Veyret also disclosed that aside from Carrefour, two other French firms, namely Oberthur and Sodexho are also interested in setting up operations in the Philippines.

Oberthur manufactures paper money and identification cards while Sodexho offers catering services to airlines and is eyeing the Philippines as a possible hub.

Veyret, however, could not say how much the three French firms are planning to invest in the country.

"It is difficult to say at this time how much investments are involved. Suffice it to say that these firms will hopefully pave the way for more French firms to put up shop in the Philippines," she explained.

Veyret admitted that the continuing security problem in the Philippines was the major reason why French businessmen are afraid to invest in the country.

"It is very hard to sell the Philippines even to French tourists, so we need the Philippine government to help up promote the country as an attractive investments and tourism haven," Veyret said.

Carrefour had previously been talking with local retail group, Rustan’s Marketing Corp.