MANILA (UPDATE) — Several firms in France are eyeing investments and opportunities in the Philippines as the country further reopens its economy, the French embassy said Monday.

French Ambassador to the Philippines Michèle Boccoz said businesses in her country are looking for different sectors that can be improved in the Philippines. The event, she noted, was prefaced by a meeting from the transport, environment, and public works and highways departments.

“They’re coming for the first time after the COVID-19 pandemic now that the country has reopened its travel and it shows really a great interest in looking at business opportunities in the Philippines,” Boccoz told members of the media in a chance interview.

“There will be a series of meetings with the different departments concerning all the areas, all the sectors [where] there will be potential increase in business or… investments,” she added.

The event is the 6th French business delegation in the country led by MEDEF international, the largest consortium in the European country. About 95 percent of the firms in this group are small and mid-size enterprises, a statement from the embassy read.

Some of the companies present in the MEDEF delegation include those in the airport, water management, infrastructure, and food sectors in France. They are keen on meeting their counterparts in the Philippines, noted the envoy.

Boccoz said there would be a joint economic briefing between the Philippines and France as early as next year, providing a window for the firms and governments to review potential investments.

“All the investment decisions are private sector decisions and they would make a decision [after they have met] their counterparts… I am sure it would be very very fruitful, it would provide a lot of potential for interaction,” she said.

President Ferdinand Marcos, Jr. is hoping the Philippines will become Asia’s logistic center.

The President had also vowed to prioritize the revival of micro, small, and medium enterprises under his administration to further spur the pandemic-battered economy.