MAKATI – In efforts to strengthen trade and investment relations between Philippines and Spain, Department of Trade and Industry (DTI) Secretary Ramon Lopez shared with Spanish Ambassador Jorge Moragas Sánchez and Spanish business executives the PH’s growth story and its economic opportunities.
During an economic briefing organized by the Spanish Chamber of Commerce in Makati City on 21 November 2018, Sec. Lopez underscored PH’s positive growth momentum and the sectoral drivers, particularly the manufacturing industry.
“To sustain our growth momentum, we are having a huge structural shift to develop our manufacturing base. And with that, DTI continues to drive more investments to build a stronger manufacturing base that will cater to the domestic market and at the same time create surplus for export to other countries,” Sec. Lopez explained.
The trade chief shared that PH’s exports have been largely concentrated on electronic products, machinery and transport equipment, and other electronics, thus the need to diversify to other major sectors.
Sec. Lopez also addressed the concerns and inquiries of Spanish business executives in relation to the TRABAHO (Tax Reform for Attracting Better and High Quality Opportunities) bill, the Foreign Investment Negative List, PH’s infrastructure programs, exports, transportation and airline businesses, as well as potential Public-Private Partnerships in the healthcare sector.
Meanwhile, the new Ambassador-designate Sánchez expressed Spain’s intention to deepen economic relations with PH through trade and investments. He relayed that PH is a priority country for commercial bilateral partnership. He also cited the long historical ties of both countries and assured its people that they “are here for the future.”
Present during the economic briefing include officers from Sodexo BRS Philippines, Purlieu International,Clopudian Global, MFT Group of Companies, Mondial Tours, Fundacion Santiago, Mapfre Insular Insurance Corporation, and ZMG Ward Howell Inc.♦
Date of Release: 26 November 2018