DTI hikes budget for international trade show participation

MANILA, Philippines – The Department of Trade and Industry (DTI) is hiking its budget to participate in big international trade shows next year to promote the Philippines as an investment destination.

Speaking at the Philippine Economic Briefing yesterday, DTI Secretary Gregory Domingo said the department would focus more on participating in bigger trade shows to promote the country to investors as well as to help exporters.

He said the DTI has increased the budget to participate in international trade shows to P120 million next year from this year’s P90 million.

“Instead of smaller shows, we want to take part in the bigger shows so that there will be greater impact,” he said.

He said the country would participate in shows like the Anuga, the largest food and beverage fair in Germany, as well as other big international shows for food in Dubai, and for fashion in France.

He said there are a lot of positive developments in the Philippines, but not all investors overseas know about this.

By participating in big international trade shows, Domingo said, the government would not only help participating Filipino exporters showcase their products, but also promote the country.

“This will only support a small number of exporters initially, but overall it will support every exporter. We will once again be recognized and buyers will be coming to Manila because of our exposure abroad,” he said.

“That is really our intent, to generate enough attention so that they decide to go here,” he said further.

With the promotion of the country, foreign firms would also be encouraged to locate here which could benefit the manufacturing industry.

Domingo noted that what is more important to investors in deciding where to locate and place their funds is having a level playing field, general infrastructure, low power costs and peace and order.

“They are not going to decide (to locate in) a country purely based on incentives...Incentives are secondary and our incentives are competitive,” he added.

Cumulative merchandise exports of the country for the January to July period rose 7.7 percent to $31.564 billion this year from the $29.306 billion last year.

In terms of investment missions, some 320 foreign companies visited the country in the first semester, more than the total number of foreign firms part of in-bound missions a year ago.