DTI Chief highlights the positive conclusion of the three-week Europe Investment Roadshow | Department of Trade and Industry Philippines

MAKATI CITY – During a media briefing on 10 July 2023, Department of Trade and Industry (DTI) Secretary Fred Pascual highlighted the positive outcomes of his three-week investment roadshow in Europe. He emphasized the success of the roadshow which generated 16 positive investment leads amounting to PHP 73.75 billion and an estimated job generation of 4,350. The DTI chief reported that the Philippine delegation received a positive reception from the European government and businesses as they view the roadshow as a demonstration of the active engagement and investment promotion efforts of the Philippines in the European region.

The Europe Investment Roadshow aimed to gather investment leads for priority sectors such as Manufacturing and Research and Development (R&D), Higher Value Services, and Renewable Energy. The Philippine delegation also took the opportunity to foster strategic partnerships and collaboration with the European government and businesses which will be significant in the country’s aim of sustainable growth and development.

In his discussion, Secretary Pascual emphasized that the Europe Investment Roadshow, which covered five countries, namely France, the United Kingdom, Brussels, The Netherlands, and Germany, generated 48 project investment leads. Out of these 48 leads, 14 are in the area of manufacturing & related services such as in training and IC Design; 16 are in the area of IT-BPM such as Global Business Services/Shared Services Centers, Healthcare Information and Management Services, Clinical Research/Trials, IT solutions for cybersecurity and game development; 15 are in the area of Renewable Energy particularly, in onshore/offshore shore wind, solar, and hydrogen; and 3 in infrastructure and construction related services.

Further, Secretary Pascual elaborated that of the 16 positive leads, six are in the Renewable Energy sector; six are in the IT-BPM sector particularly four on the establishment and expansion of global business centers and shared services, one in IT solutions for cybersecurity and one lead in game development; two in manufacturing; one in construction services; and, one in acquisition.

Secretary Pascual also added that the Philippine delegation met with several members of the European Parliament to discuss the resumption of the talks for a free trade agreement (FTA). He also discussed that in his business meetings, he stressed the significant policy reforms undertaken by the Philippine government to create an enabling business environment for foreign investments.

In his remarks, Secretary Pascual stressed that “This Europe Investment Roadshow is a testament to the DTI’s commitment of creating an inclusive and sustainable business environment for investments. We will work tirelessly with the whole of government to ensure that these gathered investment leads will lead to high-quality and better-paying jobs for Filipinos.” ♦
Date of release: 11 July 2023