German investors closely monitoring NAIA 3 issues

A number of German investors are waiting for the government to resolve the issue surrounding the Ninoy Aquino Terminal 3 (NAIA-3) before putting in more businesses in the country.

“It (NAIA-3) is being monitored in Germany in a way how it is being handled by the government here,” Franz Roland Odenthal, president of the German-Philippine Chamber of Commerce and Industry (GPCCI) said in a press conference yesterday.

According to Odenthal, the Germans are looking for an assurance from the government that it is safe to invest in the Philippines.

He added that the perception of the Germans with regards to doing business in the Philippines is closely linked with the resolution of the NAIA –T3 case.

He said the Fraport case is not being handled efficiently and has been a major concern for various prospective investors in the Philippines.

German contractor Fraport was involved in the construction of the mothballed terminal.

Aside from the resolution of the T3 case, Odenthal said the “political infrastructure must be intact to be able to attract more foreign investments.”

In addition to this, Odenthal said that the newly formed GPCCI will help facilitate trade relations between the two countries. In fact, Odenthal identified key areas for investments namely infrastructure and tourism.

He said a number of German investments in the pipeline include areas in renewable energy, outsoucing in software development, back office services, information technology, tourism and maritime.

For his part, Gunter Matschuk GPCCI first vice president said a number of foreign investors are interested in rehabilitating old hydroelectrical power plants, a move that is expected to improve the energy situation in the country.