9 Apec countries to increase investments in Philippines

NINE countries have vowed to invest more in the Philippines on the heels of the recently-concluded Asia Pacific Economic Cooperation (Apec) Leaders’ Meeting hosted by the country on November 18-19, the Department of Labor and Employment (Dole) said Monday.

Countries that vowed investments are Australia, Japan, South Korea, Mexico, New Zealand, Peru, Papua New Guinea, Russia, and the United States.

“These potential investment and employment opportunities are tangible outcomes of the Philippines’ hosting and active participation in the Apec,” said Labor Secretary Rosalinda Baldoz in a statement.

Australia may invest in the processed food and agribusiness, IT-BPM, engineering services, and infrastructure sectors.

Baldoz said there can also be possible jobs from investments from Mexico in the areas of infrastructure and energy, manufacturing of electronics, food/agribusiness, pharmaceutical and medicine, aerospace, fabricated metal products, and consumer products.

Russia is interested in the IT-BPM sector, processed and specialty food manufacture, non-renewable and renewable energy, design-driven products, and aerospace.

New Zealand’s potential investments, meanwhile, could create more employment opportunities are in processed food and agribusiness, IT-BPM services, engineering services, infrastructure and other public-private partnership projects, auto parts exports, and manufacturing.

The labor chief also said there are identified investment opportunities from Peru in the country’s infrastructure, energy, manufacturing of electronics, food/agribusiness, pharmaceutical and medicine, aerospace, fabricated metal products, and consumer products.

Baldoz said the country also welcomes Papua New Guinea investments in infrastructure/PPP, IT-BPM, shipbuilding, energy, and agribusiness.

Papua New Guinea is also interested in the areas of cannery, consulting, engineering, building and construction, services sector, retail, ports development, air services, agriculture and agro-industries (exchange of professionals/scientists, information, and technology; and collaborative studies on agriculture and cooperation in rice farming and production).

Japan, meanwhile, brings potential for jobs in the copper mining industry and manufacturing sector, specifically for auto parts, printer, and printing parts, and medical devices; as well as from investments in the services sector, particularly on IT-BPM and gaming development; and the expansion of the Japan-Philippines Economic Partnership Agreement for the deployment of other Filipino professionals to Japan.

With South Korea, there are potential jobs in the established trade agreement covering investment opportunities for ship building, automotive manufacturing, electronics manufacturing (printers, integrated circuits, LED modules), agribusiness (food production and processing), renewable energy, banking and finance, and tourism (hotel, retirement village, infrastructure).

Baldoz said jobs are also being eyed from US investments in the sectors of IT-BPM sector, food manufacture, and design-driven products. It could also see more investments in electronics manufacturing, manufacturing of energy products, pharmaceuticals, and aerospace products, as well as in infrastructure and energy. (HDT/Sunnex)‬

Source: www.sunstar.com.ph