From L to R: Department of Foreign Affairs Secretary Enrique Manalo, Department of Trade and Industry Secretary Fred Pascual, House of Representatives Speaker Ferdinand Martin Romualdez, President Ferdinand Marcos Jr., German Federal Ministry of Economic Affairs and Climate Action (BMWK) Parliamentary State Secretary Stefan Wenzel, Siemens AG President and Chief Executive Officer Dr. Roland Busch

–President Ferdinand R. Marcos Jr. together with DTI Secretary Fred Pascual and key officials from the Philippine delegation welcomed USD 4 billion investment from German companies during the agreement signing of the Philippine-German Business Forum held on 12 March 2024.

In his speech, Secretary Pascual said, “These agreements only signify the confidence that German businesses placed in the Philippines, but they also underscore the alignment of our economic priorities. Spanning key sectors such as healthcare, manufacturing, innovation, agriculture, and renewable energy, these ventures hold promise of shared prosperity and sustainable development.”

The PH-DE forum was attended by officials of over 100 German businesses from the electronics, manufacturing, IT, energy, finance, aerospace, telecommunications, infrastructure, and transport sectors. It was co-organized by the Philippine Trade and Investment Center (PTIC)-Berlin in collaboration with the Asien Pazifik Auschuss (APA/Asia Pacific Committee of the German Business) and the German Federal Ministry of Economic Affairs and Climate Action (BMWK).

 From L to R: Department of Trade and Industry Secretary Fred Pascual, President Ferdinand Marcos Jr., Siemens Healthineers Philippines President & Managing Director Michael Schmermer, Siemens Healthineers Philippines Finance Director Paula Villafuerte, Siemens Healthineers Global Head of Computed Tomography Philipp Fischer

APA is an umbrella organization comprised of the Federation of German Industries (BDI), the German Chamber of Commerce and Industry, the German Asia-Pacific Business Association, The Federation of German Wholesale, Foreign Trade and Services, and the Association of German Banks.

During the business forum, APA was represented by its Chairman, Dr. Roland Busch, currently heading the Siemens Group which is the largest industrial manufacturing conglomerate in Europe.  On the other hand, BMWK was represented by Stefan Wenzel, BMWK’s Parliamentary State Secretary.

A panel discussion was also held and moderated by Stephan Schmidt of the German-Philippine Chamber of Commerce who focused on PH-DE industry complementation, featuring Jaime Alfonso Zobel de Ayala, Chief Executive Officer of AC Motors Group, and representatives of German companies with operations in the Philippines, alongside Vijay Ratnapharke, Bosch President for Southeast Asia.

The forum concluded with a business networking session, facilitating exploratory exchanges between Philippine and German businesses. The Philippine business delegation accompanying President Marcos in his working visit to Berlin included AC Motors CEO Jaime Alfonso Zobel de Ayala, PLDT Inc. Chairman & CEO Manuel Pangilinan, VP Earl Qua, ITBPAP President & CEO Jack Madrid, Asia Green Carbon Holdings CEO Ronnie Co, Philippine Airlines President & CEO Stanley Ng, Cosmic Technologies CEO Maynard Ngu, Trion Group Chair & CEO Ronald Siasoyco, Manila Electric Company COO Ronnie Aperocho, and Siemens Healthcare Philippines President Heinz Michael Schmermer. ♦

Date of release: 13 March 2024