NextGen Day

Department of Trade and Industry (DTI) Secretary Alfredo Pascual has invited German companies, urging them to explore the Philippines as their next investment destination. The Philippine government recognizes the need for German businesses to diversify their operations, offering unique advantages and opportunities for growth.

During an investment forum held in Berlin on July 3, Pascual engaged with 50 German firms, including notable companies such as Siemens AG, Gamigo Group, Nivus GmbH, Continental AG, Lufthansa Group, Messer Group, Allianz SE, Telstra Limited, Bayer AG, Bauer Spezialtiefbau GmbH, Synolytics GmbH, Pepperl + Fuchs, and Voith GmbH.

Highlighting Germany as the final leg of the Philippine delegation’s investment roadshow in Europe, Pascual emphasized the country’s potential as an attractive investment destination for European businesses. He met with key representatives from the Association of German Chambers of Industry and Commerce and Germany’s Electronics and Digital Industries Association, encouraging German enterprises to explore various sectors in the Philippines.

Pascual stated that the Philippine government is committed to strengthening the economy and transforming the country into a thriving business hub in the Asian region. He pitched sectors such as renewable energy, information technology and business process management (IT-BPM), high-tech manufacturing, and infrastructure as promising investment opportunities for German investors.

Despite the global economic slowdown, Pascual highlighted the resilience of the Philippine economy, which achieved a robust 7.6 percent GDP growth in 2022, surpassing that of China and Vietnam. To create a conducive business environment and attract more foreign investments, the Philippine government prioritizes infrastructure development, streamlining ease of doing business, implementing tax reforms, and promoting investment liberalization.

The Philippines looks forward to fostering closer economic ties with Germany and welcoming German companies seeking new avenues for growth and success in Southeast Asia.

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