DTI chief spearheads European investment roadshow to spur economic growth

Trade Secretary Fred Pascual has embarked on a 19-day European investment roadshow aimed at attracting much-needed investments in priority sectors such as manufacturing, research and development, higher value services, and renewable energy.

According to data from the Bangko Sentral ng Pilipinas, foreign direct investments from Europe plummeted by 74% in the first quarter of 2023 to $5.8 million.

Overall, foreign direct investments fell by 19.6% to $2.04 billion with investments from Japan, the United States, Canada, and Asia also experiencing a decline.

Organized by the Board of Investments in collaboration with Philippine Trade and Investment Centers in Europe, the Department of Trade and Industry’s Europe Investment Roadshow commenced on June 18 and will conclude on July 6, 2023.

The first leg of the roadshow takes place in France and coincides with the 10th Philippine-France Joint Economic Commission Meeting.

The United Kingdom is the second destination, with the delegation staying there until June 23 before proceeding to Belgium from June 25 to June 28. The Netherlands serves as the fourth stop, scheduled for June 29 to July 1. Germany is the final stop, with meetings with businessmen scheduled from July 3 to July 5.

The DTI aims to rekindle the interest of European investors who were hesitant to invest in the Philippines during the previous administration due to human rights concerns.

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