MANILA, Philippines – Two business delegations from Luxembourg and Russia are expected to visit the country this year to check out investment opportunities, the Philippine Chamber of Commerce and Industry (PCCI) said.
PCCI president Alfredo Yao told reporters the 30-member business delegation composed of firms engaged in the information technology and tourism sectors from Luxembourg would visit the country in July.
He said another business delegation from Russia is likewise expected to visit the country within the year.
“With AEC (Association of Southeast Asian Nations Economic Community), they are looking at using the Philippines as a hub for ASEAN (Association Southeast Asian Nations),” he said.
The AEC, to be in place by December next year, seeks to create a single market economy with free movement of goods, services and investments throughout the region.
Yao said the PCCI is promoting the Philippines as a potential hub in the region to foreign firms and the group’s partner business councils in other countries.
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“We are looking for them to invest here and use the Philippines as a hub for the ASEAN market,” he said.
The PCCI is also encouraging partnerships between foreign firms and local companies.
Yao noted that among the advantages of the Philippines over its peers in the region is the availability of a Filipino workforce which speaks the English language and could easily be trained.
“The Filipinos are fast learners. We work well with others,” he said.
The Philippines has become an attractive location to do business for foreign firms given its strong economic growth, skilled workforce, as well as efforts to improve governance and the investment climate.
The PCCI, the country’s largest business organization, has a nationwide network of 110 chapters, 137 industry sectors, 37 business councils and 1,500 direct corporate members.
