RP sets investment road show in Germany in Oct.
Posted September 25, 2008THE government, with the help of the German-Philippine Chamber of Commerce and Industry (GPCCI), will conduct an investment road show in Germany next month to prod German firms to locate their manufacturing facilities in the different economic zones in the country.
Franz Roland Odenthal, GPCCI president, said despite the fuss created by the problematic Fraport AG contract on the Ninoy Aquino International Airport (Naia) Terminal 3, the Philippines remains as a good site for manufacturing activities because of the country’s English-speaking labor force and its strategic location in the region.
“With the location of the Philippines, manufacturers can easily supply to other Asian countries,” Odenthal said.
Also, the knowledge of Filipinos of the English language is an advantage.
Odenthal narrated that when his company, Bosch, set up a facility in Vietnam, it took them a long time before they got over the communications barrier with their employees.
Odenthal said they want to promote the economic zones in the country because of the clear policies and competitive incentive scheme being offered by the Philippine Economic Zone Authority (Peza).
With this, Odenthal said Peza director general Lilia de Lima will be touring with the German Chamber to four major cities in Germany to invite companies there to locate in Peza-accredited economic zones.
He said the German companies that are located in Peza zones, such as Continental, Bosch, Temic and Siemens, have been doing well and are continuously expanding operations.
“We only hear very positive news from companies located in Peza. Its management also reacts quickly to the problems [of the locators],” he said.
Odenthal said Philippine Ambassador Delia Albert and the consuls in Germany are already inviting relevant German companies to the investment road show.
It is part of the program of the GPCCI to strengthen partnership with the Philippines as they celebrate their German Month, which also features the Mabuhay Germany! Expo at the Bonifacio High Street displaying German products and services on October 10 and 11, and the Oktoberfest celebration at the NBC Tent from October 17 to 19.
German Ambassador to the Philippines Christian-Ludwig Weber-Lortsch said some 250 German companies have so far invested about $500 million in the Philippines, not counting their subsequent reinvestments.
The Peza zones, Weber-Lortsch said, are very attractive because of the relatively shorter period of time to do business as locators do not need to deal separately with the different regulatory agencies.
Source: Business Mirror, September 25, 2008
By Max V. de Leon
