DTI: Cognizant, Maersk, other firms eye Philippines expansion
MANILA, Philippines — Information technology (IT) services firm Cognizant and transport and logistics firm A.P. Moller – Maersk are exploring investment opportunities in the Philippines, according to the Department of Trade and Industry (DTI).
Malaysian firm Rohas-Euco Industries Berhad (REI), which is engaged in power, telecommunication, water and steel fabrication, is also looking at opportunities to do business in the Philippines.
The DTI said Trade Secretary Cristina Roque met with Jane Livesey, executive vice president and president for Asia Pacific and Japan at Cognizant, on the sidelines of the World Economic Forum meeting in Davos, Switzerland to discuss the technology firm’s plans to expand its operations in the Philippines.
During the meeting, Roque said that the Philippine government is committed to supporting Cognizant in expanding its presence in the country, particularly in enhancing artificial intelligence (AI) capabilities.
Livesey shared Cognizant’s plan to enhance its service offerings and increase investments in AI-related projects.
She cited the Philippines’ skilled talent pool and robust IT infrastructure as key factors in driving the company’s expansion.
Roque also met with A.P. Moller-Maersk chair Robert Maersk Uggla to discuss investment opportunities and how to strengthen collaboration in logistics and sustainability.
Maersk reaffirmed the firm’s commitment to the Philippines, which it sees as a key import and export market, as well as a source of talent.
Also discussed during the meeting were potential public-private partnerships in port development to enhance trade efficiency and economic growth, particularly in Visayas and Mindanao.
“With Maersk’s expansion of fulfillment centers and marine infrastructure, the Philippines stands ready to support their growth with world-class talent and strategic incentives,” Roque said.
She said there are incentives available under the CREATE MORE Act, including tax breaks, customs duty exemptions, as well as access to strategic logistics hubs.
The DTI said that Roque also met with Marc Dunoyer, CEO of Alexion and chief strategy officer of AstraZeneca to discuss expanding clinical trials in the Philippines.
Dunoyer talked about the potential for conducting nearly all of AstraZeneca’s portfolio trials in the Philippines, given the country’s diverse population and strong clinical expertise.
The initiative is expected to help retain health care professionals and increase access to innovative medicines in the country.
“By harnessing the power of AI and digital health, we can revolutionize disease prevention, early detection and treatment – paving the way for better health care that will benefit our people and economy,” Roque said.
The DTI said REI is also exploring opportunities in the Philippines, particularly in transmission tower projects.
Trade Undersecretary Ceferino Rodolfo recently met with REI business development manager Janet Tong, as well as officials from the Malaysian International Chamber of Commerce and Industry (MICCI) during his visit to Malaysia to explore new opportunities to enhance trade and investments between the two countries.
Rodolfo also invited MICCI members to the investment mission to the Philippines scheduled for the end of the year.
“The Philippines offers a dynamic and competitive environment for investment, particularly in sectors like electronics, semiconductors, manufacturing and construction,” he said.
By strengthening partnerships between Malaysian and Philippine firms, he said there will be benefits for both economies in terms of new opportunities and innovation.
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