The Department of Trade and Industry (DTI) has generated P73 billion investment leads from its three-week investment mission to Europe, according to Secretary Alfredo Pascual.
Pascual in a press briefing said these will be infused in 16 projects in renewable energy, six; information-technology business process management, six; manufacturing, two and infrastructure related to manufacturing, two.
Pascual said the roadshow has identified 44 projects of which 16 reached substantial progress.
He said some would materialize in five to six years particularly for RE projects which require a long time to develop.
Pascual said his visit to five countries – France, the United Kingdom, Belgium, the Netherlands, and Germany – was an occasion to hear out and address issues raised by investors such as infrastructure, permits and raw material supply.
Pascual cited in particular offshore wind energy projects which face problems of transmission for the energy they generate.
He said manufacturing like aerospace need to consider the cost of transporting inputs for the manufacture of parts and components.
Pascual also said speeding up permits especially in local government units is also a concern. – Irma Isip
