The government of Spain has shown interest in several sectors in the Philippines, such as food logistics and water management, recognizing them as areas where Spanish businesses are keen to explore investment opportunities.
In a social media post on Wednesday, the Department of Finance (DOF) said Secretary Ralph Recto met with Miguel Utray Delgado, ambassador of Spain to the Philippines, at the DOF office in Manila on June 3.
The two officials discussed ways to deepen economic cooperation and build on an enduring partnership between the two nations.
“Both sides reaffirmed their commitment to strengthening collaboration—particularly in key areas such as food security, infrastructure, tourism, digitalization, cybersecurity, renewable energy and water supply and sanitation, among others,” the DOF said, without providing further details.
In a video interview conducted by the DOF as posted on Facebook, Delgado said Spain and the Philippines have a “bright future of cooperation,” expressing that the Spanish government wants to support the Filipino government and the Filipino people.
“The Philippines is in a strategic situation in Southeast Asia, it has a vibrant and young population, and all of the economic indicators are very good,” Delgado said.
“We follow the plan for social and economic development of the Philippines. I think it’s a very strategic document. And basically, in that frame
work, we are centering our efforts on food security, of food logistics, which entail many things for instance, infrastructure, ports, bridges, airports, roads,” he added.
Delgado also said there are several big companies in Spain that can work in that direction.
“We also think that water management is a very interesting sector in the Philippines. And of course, we are a leading country in renewable energies. And so we are here to support the green transition of the Philippines,” he said.
During the meeting, two upcoming events were discussed.
“(The) roadshow of the economic briefing, the economic part of the Philippine government will do in Madrid on the 3rd and 4th of July. At the same time in Seville there is a summit on development financing where there will be more than 40 chiefs of state and government so we’re here with the (Philippine) secretary of finance preparing for the trip,” Delgado said.
According to the Department of Trade and Industry website, priority sectors for promotion in Spain are agribusiness, creatives, renewable energy and infrastructure. Philippine priority sectors for investments are industry, manufacturing and transport; technology, media and communications; and health and life sciences.
