03 January 2018
also posted on Business Mirror
AFTER the record-breaking investment approval of P616.7 billion for 2017, the Department of Trade and Industry (DTI) and the Board of Investments (BOI) met with Russian investors from BT SVAP LLC on December 20, 2017 to discuss investment intentions focusing on a pipeline-coating facility in the Philippines.
“More investors have expressed their confidence in the country’s economic stability and business environment under the Duterte administration. They wish to partner with us in providing more jobs and opportunities for Filipinos, especially those at the bottom of the pyramid,” Trade Secretary Ramon M. Lopez said.
Igor Shaporin, BT SVAP LLC’s chairman of the Board of Directors, expressed the company’s intention to put up a facility in Mariveles, Bataan, where accessibility to sea and land transportation is easily available.
The company’s prospect location would require a big land area and will have innovative-production technology in pipeline coating.
The Moscow-based BT SVAP LLC is an integrated company specializing in the development and implementation of innovative solutions in industrial production and construction of pipeline system for fuel-power complex, chemical industry and housing and utilities infrastructure.
The group also focuses on production of protective shelves for pipes and pipelines, which uses modern hi-tech production and logistics facilities, as well as multifunctional design-engineering units.
The trade chief conveyed the country’s openness to investors and the government’s efforts in diversifying investors, while also ensuring ease of doing business in the country.
“This could be a pioneer technology in the country. Apart from investments, sharing of technological know-how, and employment generation, this will also open opportunities for our domestic market and export industry,” the trade chief said.
Also at the meeting were Presidential Spokesperson Harry Roque, BOI Managing Head and DTI Undersecretary Ceferino Rodolfo, and DTI Undersecretaries Nora Terrado and Rowel Barba.