During the conference, the Philippine delegation also met with KnaufGips KG chief executive officer Manfred Grunke and DEG Director Corporates Klaus Helsper to discuss the status of its investment in Batangas.
In a statement, Terrado said she assured the German investor that the Philippine government will continue to support the company in the implementation of its investment project in the Philippines.
In return, company officials said their R1.955-billion investments for a gypsum board panel production will be completed and operational by 2018.
Since 2013, Board of Investments (BOI) and Philippine Trade and Investment Center in Berlin have been assisting KnaufGips in several due diligence visits in the country until the establishment of the company’s business operations in July, 2016.
Knauf Gypsum Philippines, Incorporated, a partnership between KnaufGips KG and DEG, was registered with the BOI on a pioneer status for the manufacture of gypsum boards in its facility in Batangas, with estimated investments of R1.955 billion and expected to generate 100 direct jobs.
The Philippine delegation including BOI Director Angelica Cayas, and Philippine Trade and Investment Center-Berlin (PTIC-Berlin) Commercial Counselor Althea Antonio also met with other businessmen at the APK.
The APK is a key signature event in Asia, where top business and government leaders from Germany and Asia gather every two years to discuss business, to network and strengthen personal and economic ties with the region.□