Trade chief to lure US investors in August

Michelle Ong, ABS-CBN News

Posted at Jul 28 2017 11:59 AM | Updated as of Jul 28 2017 05:55 PM

MANILA - Trade Secretary Ramon Lopez on Friday said he will be flying to the United States next month to meet with potential investors.

Lopez said 3 meetings have been set already, with 30 companies expected to participate.
 
"We expect more agri-processing, agri-related businesses, and mga tech companies," he told ABS-CBN News at the sidelines of the 25th Metro Manila Business Council.
 
Aside from meeting investors, Lopez will also be looking at innovation centers there, "a bit of learning seminar, exposure for us on how to replicate the Silicon Valley incubation system."
 
The Department of Trade and Industry is identifying possible incubation hubs in the Philippines, areas that will focus on promoting research and development and innovation projects. 

Potential hubs include Central Luzon, areas in Metro Manila, Silliman University in the Visayas, and Cagayan De Oro in Mindanao.
 
Lopez said foreign investors remain bullish on the Philippines.
 
“They’ve not removed their interest, intention to expand or enter the Philippine market. They still see the robust growth, demographic (dividend) and big consumer base. We also give them market access to many other markets which we have FTAs (free trade agreements) with.”
 
Lopez cited the addition of travel goods in the generalized system of preferences (GSP) with the US, which could see an additional $200M in additional exports as another come-on for investors.
 
But before heading to the US, Lopez will fly to Thailand next week for investment meetings, then to Malaysia.