Dutch business sees PH growth potential – DOF, DTI 

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30 Dutch execs in high-level talks with PH officials

Philippine finance and trade officials said Dutch investors have expressed interest in the country’s strong growth potential and pro-investment reforms in high-level dialogues held earlier this week.

The Department of Finance (DOF) said in a statement the January 27 dialogue brought together over 30 leaders from the Dutch business and financial sectors. 

“We are very proud to host today’s event talking about a country that’s growing so swiftly with so many attractive opportunities. Despite all the uncertainty that we’ve seen over the past couple of years, the Philippines continues to grow,” ING CEO Steven van Rijswijk was quoted as saying in the DOF statement.

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“And we see that because many companies are investing from all over the world there, just as ourselves”, the ING executive said.

Currently, there are more than 100 Dutch companies that have invested in the Philippines, together comprising over $5 billion in export revenues and employing about 350,000 Filipinos, and growing, he pointed out.

“So that’s very good and that also has inspired us in the past to go to the Philippines. We’ve been to the Philippines for 35 years,” Rijswijk said.

At least 130 Dutch companies operate in the Philippines, among them ING Bank, TNT Express Worldwide Philippines, Heineken International, Royal Philips, and East West Seed, among others, the DOF said.

DOF Undersecretary Domini Velasquez presented updates on the Philippines’ economic progress at the dialogue, emphasizing its key investment advantages. 

These include the country’s exceptional growth driven by a large and dynamic consumer market; a tech-savvy and highly skilled labor force; and the ongoing infrastructure development that is fueling robust economic expansion. 

According to Velasquez, the Philippines is also making strides to become more open, liberalized and globally competitive than ever before especially with the recent enactment of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy Act that will ensure the long-term success of businesses.

Meanwhile, Trade and Industry Undersecretary Ceferino Rodolfo showcased the Philippines’ investment priority sectors, including electric vehicles, smart manufacturing, semiconductors and electronics, green metals, food and agriculture, tourism, renewable energy, and data centers or telecommunications infrastructure.

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