DTI strength­ens trade, in­vest­ment re­la­tions with Span­ish com­pa­nies

Palawan Daily News - - FRONT PAGE - By Su­san G. De Leon

De­part­ment of Trade and In­dus­try (DTI) Sec­re­tary Ra­mon Lopez shared with Span­ish Am­bas­sador Jorge Mor­a­gas Sánchez and Span­ish busi­ness ex­ec­u­tives the Philip­pines’ growth story and its eco­nomic op­por­tu­ni­ties in an ef­fort to strengthen trade and in­vest­ment re­la­tions be­tween Philip­pines and Spain.

Dur­ing an eco­nomic brief­ing or­ga­nized by the Span­ish Cham­ber of Com­merce in Makati City on 21 Novem­ber 2018, 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,” 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.

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 Am­bas­sadordes­ig­nate 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.

(Photo cour­tesy of DTI)

DTI Sec. Ra­mon Lopez with Am­bas­sador Jorge Mor­a­gas of the Span­ish Cham­ber of Com­merce (La Cá­mara) dur­ing its monthly eco­nomic brief­ing for its mem­bers. Lopez served as guest speaker for the event where high­lighted var­i­ous as­pects about the Philip­pine econ­omy.

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