16 February 2019

Published also in Business Mirror

THE Department of Trade and Industry-Trade and Investments Promotion Group (DTI-TIPG), together with the Board of Investments (BOI), led the Trade and Investment Briefing for Hiroshima Asean Association in promoting Philippine investment opportunities on February 8, 2019.

Held at the BOI Boardroom in Makati City, the forum consisted of representatives from the DTI, BOI, Hiroshima Asean Association and Philippine private sector. The Philippine private sector consisted of companies from the electrical, manpower, agribusiness, tourism and autoparts industries. The Japanese delegates from Hiroshima were representatives from the government, manufacturing, media, construction and transport industries.

Foreign Trade Service Corps (FTSC) Commercial Counsellor Ma. Bernardita Angara-Mathay of Philippine Trade and Investment Center-Tokyo (PTIC-Tokyo) introduced the vice chairman of the Hiroshima Asean Association, Setsuko Komatsu, to give a background of the Hiroshima Asean Association.  Mathay also introduced the adviser of the association and former secretary-general of Asean-Japan Centre, Yoshikuni Ohnishi.

DTI-TIPG Assistant Secretary Rosario Virginia Gaetos gave the welcome remarks and also provided the delegates with a succinct profile of the Philippine economy, giving the delegates a preliminary background on the country’s business climate and demographics.

Japan, being one of the closest countries to the Philippines, has become the second trade partner of the Philippines. It ranks third in terms of the major market of Philippine exports while it ranks second in terms of imports, Gaetos explained.

Meanwhile, DTI-Export Marketing Bureau (EMB) Assistant Director Agnes Legaspi, BOI-Europe and Middle East Division Chief  Lanie Dormiendo, and Philippine Economic Zone Authority Promotions and Public Relations Group Manager Elmer San Pascual presented key topics to promote the Philippine opportunities in terms of trade and investments in Peza Economic zones.

The presentations highlighted the advantages of the Philippines in economic growth, strategic geographical positioning, free-trade agreements, business climate and manpower resources. The discussion also revolved on the investment opportunities in the following sectors: manufacturing (food processing, chemicals, electronics), infrastructure/construction and logistics (airport and seaport development, mass housing projects, industrial projects), strategic services (design and creative, knowledge-based services), agribusiness and aquaculture, and retail trade.