The Board Investments (BOI) and the Philippine Economic Zone Authority (PEZA) pitched to Swiss investors well as prospective and existing Swiss investors business prospects in the country.
A number of Swiss companies have also expressed interest in entering or in making additional investments in the Philippines, according Tereso Panga, officer-in-charge of PEZA said.
These were among the highlights of the investment promotion forum of the Joint Economic Cooperation last week. The forum was attended by Swiss business chambers as well as prospective and existing Swiss investors in the Philippines from the sectors of fintech and blockchain, high-tech machinery (i.e., turbo-charging equipment used in power generation, transport and manufacturing, tobacco processing, and soil erosion technology.
He added:”
“We hope to attract more foreign direct investments from Switzerland and European Union especially with President Marcos and his economic team’s ongoing participation in the World Economic Forum in Davos,” Panga said.
At the business-to-business session of the JEC forum, BOI and PEZA assisted some Swiss companies which had specific operational concerns and investment entry/expansion requirements.
These are Glencore, which is engaged in the manufacture of copper cathodes; Sateco, automotive sensors for controls and switches; OVD Kinegram, fintech and blockchain ; Naturloop, design and production of coco fiber boards from waste coconut husks and; Impact Acoustic, design and production of acoustic lighting, ceiling and wall panel boards from recycled PET bottle fibers.
“Naturloop and Impact Acoustic employ pioneering technologies utilizing local materials that will benefit our farmers and MSMEs (micro, small and medium enterprises) engaged in collection and processing of waste materials,” Panga said in a social media post.
Panga added products of these companies are an alternative to heavily imported wood and composite materials for various applications and which can be utilized for instance for furnitures, wall and ceiling panels.
Panga said the same can be used for our public school and housing projects as they are cheaper, termite-free and more durable.
“These ecozone activities will surely contribute to the DTI’s (Department of Trade and Industry) science-technology-innovation driven industrialization strategy and the country’s bid to push for more investments that support Sustainable Development Goals (SDGs), inclusive growth and circular economy,” Panga said.
Of the 60 Swiss companies operating in the Philippines, 28 are registered with PEZA as export-oriented IT and manufacturing enterprises. These Swiss locators have by far generated P19.618 billion in cumulative investments and 8,547 direct jobs. Irma Isip
