More Italian businesses seek opportunities in Philippines

MANILA, Philippines - The Italian Chamber of Commerce in the Philippines (ICCP) says foreign appetite for investment in the Philippines continues to be strong as more Italian firms are eager to have their slice of the pie.

ICCP president Sergio Boero told The STAR a growing number of Italian firms – most of which were previously venturing into countries like Hong Kong, Singapore and China – have shifted their attention and are exploring business opportunities in the Philippines.

Boero said sectors which Italian companies are looking to invest into are mainly in food and wine, agriculture, as well as hospitality and tourism.

“As Italian Chamber of Commerce, we are doing our job of promoting the Philippines as a new destination for investments and we are doing pretty well. We have increasing number of inquiries in the last six months,” he said.

Boero said ICCP strongly believes in the business potential of the country which is why it continues to organize events and promotions aimed to facilitate trade between the Philippines and Italy.

He said now is the right time to invest in the Philippines, especially with the upcoming Asean integration.

“I have great expectations from this country. I’ve been living here seven years and I have seen this country improving a lot especially for the expats living here and I hope there will be more improvements because I see a lot of potential,” Boero said.

Boero is set to go to Italy in October this year to meet with several small and medium enterprises (SMEs) there and discuss potential business opportunities in the Philippines.

“I’m going to explain the Philippines as a country and also the possibility of investment for our companies,” he said.

ICCP, in cooperation with other European Chamber of Commerce, is working to develop business relationships between European countries, particularly between Italy and the Philippines.