DTI pursuing P500-b worth of investment leads in next 18 months

TRADE Secretary Ramon Lopez said Monday the incoming administration should pursue P500-billion worth of investment leads in the next 18 months.

“These are actual pledges already in various stages of preparation, site identification, company registration, IPA [investment promotion agency] application,” said Lopez.

The Department of Trade and Industry identified new investments in manufacturing like non-woven textiles for personal protective equipment, international sports and branded apparels, drones systems, electronic vehicle parts manufacturing, charging stations, battery technology, green metals processing, automotive parts manufacturing, cement investments, shipbuilding and integrated dairy operations.

It said companies such as Minebea Electronics, Brothers International Philippines Manufacturing Corp. and Videoton Holding Inc. plan to expand their investments in the country.

Digital hubs continue to attract investments from technology and IT companies, integrated telecom fiber optics and undersea broadband subsea cables, telco towers and satellite services, it said.

Potential investments on logistics include marine services and transshipment operations, including the capacity expansion of FedEx Corp. in Clark Freeport Zone.

Lopez said the robust post-pandemic economic recovery and growth were instrumental to bringing more investments into the country.

He said the recent approval of new policy reform measures would help generate more investments and enable the economy recover swiftly.