US, EU firms scout for PH investment opportunities

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US, EU firms scout for PH investment opportunities
SHORE Official
by SHORE Official
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U.S. and European firms are scouting for business opportunities in the Philippines resulting from the Department of Trade and Industry’s (DTI’s) investment missions. DTI Secretary Gregory Domingo said that during his trip to the US in late June, several firms in business process outsourcing (BPO) and services were interested in doing business in the Philippines. Among the target sectors are those engaged in creative services, including animation and gaming development, and also healthcare information management and information technology.

Meantime, Trade Undersecretary Adrian Cristobal was in Iceland for the signing of the Joint Declaration on Cooperation (JDC) with European Free Trade Association (EFTA).representatives. EFTA comprises Iceland, Liechtenstein, Norway and Switzerland. The JDC is the first step to negotiating a free trade agreement with EFTA, with negotiations to be undertaken before year-end.

In addition, a high-level delegation of Swiss government and private company executives will come to the Philippines for a meeting on July 14 for the inaugural meeting of both countries’ Joint Economic Commission (JEC), which will be a mechanism to conduct regular dialogue and exchanges to improve trade, investment and cooperation between the Switzerland and the Philippines.


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