Source: The PhilippineStar
By Ma. Elisa P. Osorio
March 16, 2011
MANILA, Philippines – The Department of Trade and Industry (DTI) is organizing investment missions to India, Indonesia and Singapore as these countries expressed interest in participating in the country’s public private partnership (PPP) projects.
In an interview, Trade Secretary Gregory L. Domingo, who accompanied President Aquino during his visit in Singapore and Indonesia, said that they met with big business groups from both countries.
“The challenge now is to organize an investment mission from India, Indonesia and Singapore,” the secretary said. He included India because Domingo said they have just visited that country.
“We are trying to entice big groups in both countries (Indonesia and Singapore) to look into the Philippines and we were able to get the message across,” Domingo told reporters.
Domingo said that it is important to bring the potential investors to the Philippines in order to show the business leaders that the Philippines is an attractive business destination.
Domingo said that they highlighted that the investment environment here is stable and that it is now easier to do business here.
In Indonesia, Domingo said they met with Bakrie and Brothers and the Salim Group. Bakrie & Brothers is one of Indonesia’s foremost corporations with a scope of business interests that spans such profit centers as infrastructure, telecommunication, and plantations.
The Salim Group is Indonesia’s biggest conglomerate with assets including Indofood Sukses Makmur, the world’s largest instant noodle producer, and Bogasari, a large flour-milling operation. Domingo said that the Philippines needs to maintain their relationship with the Salem Group because they already have an existing interest here.
Domingo said that for Indonesia, the Philippines is looking at attracting investments in petrochemicals, agriculture and manufacturing industries that can complement current operations here because the costs in Indonesia is slightly lower. “There are also several groups who expressed their interest in tourism type of activities.