The Philippines highlighted investment opportunities in the information technology-business process management (IT-BPM), mining, and renewable energy sectors during the TOASEAN Business Day forum held in Turin, Italy on May 28.
The Philippine Embassy in Rome, together with the Philippine Consulate General in Milan and the Philippine Trade and Investment Center (PTIC)-Paris, participated in the annual forum, which this year focused on the Philippines and Vietnam to provide Italian companies with a closer look at trade and investment opportunities in the two Southeast Asian markets.
Philippine Ambassador to Italy Neal Imperial encouraged Italian firms to strengthen trade and investment ties not only with the Philippines but also with the 11-member Association of Southeast Asian Nations (ASEAN), which is projected to become the world’s fourth-largest economy by 2030.
Imperial highlighted the Philippines’ strong economic performance over the past 14 years, with average annual growth reaching six percent. He attributed the sustained expansion to prudent macroeconomic management, sound fiscal policies, and continued government spending on infrastructure.
He noted that investments equivalent to five to seven percent of gross domestic product have translated into annual infrastructure expenditures of up to $30 billion from 2022 to 2028.
The ambassador also underscored the country’s young and highly skilled workforce, stable industrial relations, and streamlined legal framework, which he said make the Philippines an attractive destination for investors.
Meanwhile, PTIC-Paris Commercial Counsellor Katrina Banzon presented opportunities in high-growth sectors such as IT-BPM, renewable energy, semiconductors, and critical minerals.
Organizers are planning to send an Italian trade delegation to the Philippines later this year to further explore potential business and investment opportunities and strengthen economic ties between the two countries.
The TOASEAN Business Day is an annual initiative organized by the Turin Chamber of Commerce, the University of Turin, and the Torino World Affairs Institute (T.wai) to promote business opportunities between Italian companies and Southeast Asian markets. – ALONA COCHON
