More French firms looking at Phl

MANILA, Philippines - More French companies are exploring opportunities in the Philippines which is becoming a more attractive destination for investments.

France’s Ambassador to the Philippines Gilles Garachon told reporters during the recent official blessing of the French Chamber of Commerce and Industry in the Philippines’ office in Makati City, more French companies are interested to visit the Philippines to check out business opportunities and investments.

 â€œFrench companies are now coming to the Philippines. They want to invest,” he said.

French Chamber of Commerce and Industry in the Philippines president Cyril Rocke said in the same event that while the Philippines was not on the radar of French firms before, it is now seen as a top location to do business in the region.

“The Philippines, until the last few years, was not really on the map of French business and investors. It was not really seen as a top destination in Asia for investment. But recently, the Philippine economy is much better. And also, the governance has improved. Better transparency and better management of the government, so there is influx of French companies interested in the Philippines and wanting to enjoy the growth of this economy,” he said.

He said French companies are interested in opportunities in infrastructure, energy, consumer goods, as well as food and beverage.

Earlier, a business delegation from France composed of 20 companies visited the country to check out opportunities.

With more French companies interested in the country, the French Chamber of Commerce and Industry in the Philippines has decided to open a new office to help them learn more about opportunities here.

The new office offers advice to French firms looking to start a business in the Philippines.

“We help them on how to set up a company, how to find lawyers, how to get visas, guidance about investment regulations, these type of things particularly for SMBs (small and medium businesses),” Rocke said.

He said the new office likewise has a business service center which could host French companies and business associates which are just starting up.

“We also offer a small business center service so if they need to come before they start acquiring their facilities, they can stay with us for a while. It is like an incubator,” he said.

Amid growing interest from French firms to do business in the Philippines, Garachon said there is room to grow trade between the two countries.