Following the first meeting of the Philippines-Switzerland Joint Economic Commission (JEC) last July, a Swiss business delegation is set to visit Manila and Cebu this month to explore possible investments in several industries.
The delegation is composed of executives from Swiss firms with strong interests in business process management, pharmaceuticals, metal recycling, and finance development.
“The forthcoming visit of the delegation led by the Swiss Asian Chamber of Commerce (SACC) shows the growing interests of Swiss businessmen in the Philippines. It is also timely considering the positive developments in the country in the past few years,” Department of Trade and Industry (DTI) Undersecretary Ponciano Manalo, Jr. said.
The DTI official added, “The Philippines is known for its political stability and robust economic growth, which are key indicators considered by investors. In fact, some companies that invested in our Asean (Association of Southeast Asian Nations) neighbors have shown interest to relocate in the country because of its viable business environment.”
He further explained that foreign investors tend to choose the Philippines over other Asean countries because of its perceived strength in business process management and the availability of a young and mobile population that is proficient in English.
“These investors are also looking at the Philippines as a potential hub in the region with the full integration ASEAN Economic Community next year,” Manalo said.
From 12 to 16 November, the delegation is scheduled to meet with Manalo and other officials of the Board of Investments (BOI), the Export Marketing Bureau (EMB), the Philippine Economic Zone Authority (PEZA), as well as officers of the Philippine-Swiss Business Council (PSBC).
On November 13, the delegation is scheduled to attend a trade and investment forum organized by the BOI and meet with several Philippine companies in the business matching session arranged by the EMB.
From November 14 to 15, the delegation is set to visit Franke Philippines, a Swiss company, and two Philippine companies, namely: Kenneth Cobonpue Asia and Profoods International in Cebu.
For his part, Philippine Ambassador to Switzerland Leslie Baja said,
“The Swiss companies’ visit aims to showcase opportunities the Philippines can offer them. There are no done deals yet, but the fact that they decided to visit shows their strong and serious interests in the Philippines.”
Baja will accompany the delegation in Manila and in Cebu.