PH on investors' 'destination' list

Posted at 02/04/2013 10:28 AM | Updated as of 02/04/2013 10:28 AM

MANILA, Philippines - The Philippines continues to draw the interest of German investors, with another delegation of businessmen from Germany due to arrive this week to look for possible local partners and inquire on their planned investments in the country.

Aside from the Philippines’s economic development, German Ambassador to Manila Joachim Heidorn said the country is also part of one of the most dynamic regions in the world today.

“A lot of investors are now looking at Southeast Asia. When they set out on a business mission to Southeast Asia, they include the Philippines in their list of destinations,” according to Heidorn.

He told the BusinessMirror over the weekend that this is already the third business delegation from Germany this year. Last year 10 delegations of German investors visited the Philippines.

“They will be here on February 7 and 8 and we have already set a business-matching session for them with Filipino businessmen at the German Chamber of Commerce and Industry office,” Heidorn said.

The delegation, he added, tentatively consist 12 executives of medium to large German companies.

Their main interests, according to Heidorn, are infrastructure, information technology and software development, as well as trading of goods.

He said based on inquiries that they are getting, it is apparent that the interest of German investors in the Philippines is increasing. Aside from foreign direct investments, he added,  Germany is  a major source of official development assistance (ODA) for the Philippines.

In 2011 Germany disbursed €5.5 million in loans and €29.2 million in grants to the Philippines.

Last year Germany committed €40.1 million  in fresh grants to the Philippines, which will be implemented beginning this year.