TO promote the Philippines as an investment destination for Russian investors, the Philippine-Russian Business Assembly (PRBA) will be holding a seven-day business mission this month to Moscow and St. Petersburg.
Russian Honorary Consul Armi Garcia, who also heads the PRBA, announced last Friday that the PRBA counterpart in Russia, the Russian-Philippine Business Council, will be hosting a business forum in Moscow where delegates of the business mission will be introduced and business matching conducted.
Aside from tourism, Garcia believes Philippine businesses can find an untapped market in food, home decor and furniture.
She said Russians are fond of tropical fruits that the Philippines produces, as well as its processed food products. The affluent and middle classes are also an ideal market for the country’s furniture and home decor pieces, as there are many new residential condominiums being built that need to be furnished.
She admitted developing a market for these goods will take time, but hopes the business mission will find for local companies new customers.
Garcia said making sure there is a ready market for these industries ensures homegrown skills are preserved and passed on to new generations. It also makes sure 200 workers of one company still have jobs.
IT, real estate
On the Russian side, Garcia said Russian companies are interested in providing technology for waste recycling, construction and mining equipment. They are also interested in putting investments in information technology, power, real estate development and manufacturing.
Garcia said the PRBA has invited Philippine Economic Zone Authority (Peza) Director General Lilia de Lima, but she cannot join them. De Lima, however, has assured that Russian investors wanting to locate manufacturing facilities in the Philippines will get Peza support.
At least 16 Philippine delegates will be joining the mission from June 14 to 22.
Speakers from the Philippine delegation will also get to speak at the forum about the Philippine economic situation and areas of cooperation.
They will also get to experience the culture and sights of Russia, with trips to landmarks, churches and museums.
Garcia maintains that tourism serves as a gateway for trade development and that an understanding of the culture is needed for business between both countries to thrive.
Immersion
She told reporters that tour companies will be joining the forum and they hope to further promote the country in that venue.
To prepare local destinations for more Russian tourists, the PRBA has begun a series of Russian language courses and introduction to culture in areas where visitors are expected to go.
She added that Russian tourists are favored because they stay longer, as they tend to exhaust their 30-day visa-free privileges, and spend more in trying out attractions, food and drinks.
Published in the Sun.Star Cebu newspaper on June 09, 2014.
