5 German, Norwegian firms mull investments in Phl

MANILA, Philippines - Four German firms and a Norwegian company are planning to invest in manufacturing facilities in the country, the Department of Trade and Industry (DTI) said.

Trade Undersecretary Ponciano Manalo Jr. told reporters representatives of the firms expressed their interest to set up manufacturing facilities during his recent trip to Europe.

He said the four German firms and the Norwegian company are involved in the production of tools, home construction as well as industrial products.

He declined to name the firms but said that “they are really interested in the country.”

The country is seen as an attractive destination for business in the Southeast Asian region with its young, English speaking workforce and competitive labor costs.

While there are firms that have expressed interest to invest in the manufacturing  sector,  Manalo said the DTI has also met with other European companies to promote the country.

Among the companies invited to consider the Philippines as a location for manufacturing is Swedish truck maker Scania Group.

“We invited them. They said that if they decide to come here, they would like us to help them find a partner,” Manalo said.

The DTI wants to attract more manufacturing firms to invest in the country in line with the government’s push to revive the manufacturing sector to make growth more inclusive and create more jobs.

“We have a manufacturing resurgence plan actively being pushed by the government,” Manalo said.

Aside from inviting more manufacturing firms to consider setting up facilities in the country, he said the  Investment Promotion Agencies (IPAs) are also working on setting goals under the 2015 to 2019 Philippine Investment Promotion Plan which will serve as a road map for a coordinated approach in promoting the Philippines as an investment destination.

Heads of the country’s 18 IPAs attended a workshop held in Zamboanga City last week to come up with plans for synchronized marketing efforts.

Manalo said that while the IPAs want to attract locators in their respective areas, he want all of these agencies to work together rather than compete with each other.

For instance, the Freeport of Bataan has several locators engaged in garments and textile, while the freeport zones in Subic, Clark and Calabarzon tend to attract light manufacturing industries.

“My message is we all have one product. Do not compete against each other but work as one and recommend the IPA if that is the right IPA for the investor that is asking for help. Help the investor make the decision even if it is not for your IPA,” he said.