Government to host more inbound missions to lure investors

MANILA, Philippines - The government will mount more inbound missions rather than outbound activities to effectively lure investors to put in their money into the country.

 ”We are shifting our strategy now. Before, the outward missions dominate our (work) program rather than the inbound. During inbound missions, we can get feedbacks, especially on investments. An investor has to see the place, like it and then he invests,” said Trade and Industry Undersecretary for International Trade Adrian Cristobal Jr.

With this, Cristobal said the government will focus on just major trade fairs including those in e-services, Manila FAME for furnishings and apparel and in furniture design.

 “We have these fairs but the problem is, they are not focused. And rather than spend so much in going out, we have to bring buyers (here) I think, we might get more impact that way. And expense wise in marketing, promotions of individual SMEs (small and medium enterprises) will be addressed in a big buyers’ mission,” he said.

Cristobal said hosting more inbound missions would also enable the exporters to save on their travel and other related expenses.

But he clarified that outbound business missions and trade fairs will continue to be pursued to promote Philippine products and services abroad.

Rashmi Tolentino-Singh, vice president for industry relations of the Chamber of Furniture Industries of the Philippines (CFIP), however argued that exporters are able to gain more buyers through outbound activities.

“That nothing comes back here is really not true because when we go out, we brand the Philippines, brand the products. And then they come here to our shows. They come even if we don’t have shows because people there have seen our products,” she said.