‘There is ample opportunity to enhance bilateral investment flows, leveraging the complementary nature of our economies, notably within priority sectors such as electronics manufacturing and information technology-business process outsourcing.’
Trade and Industry Secretary Alfredo Pascual, who was part of President Ferdinand R. Marcos Jr.’s delegation during the recently concluded presidential visit to the Czech Republic, has lured electronic and IT-BPM firms there to pour investments in the Philippines.
“We recognize that there is ample opportunity to enhance bilateral investment flows, leveraging the complementary nature of our economies, notably within priority sectors such as electronics manufacturing and information technology-business process outsourcing. These sectors are pivotal in pursuing sustainable economic growth,” Secretary Pascual said during the Philippine-Czech Business Forum held at the Ministry of Foreign Affairs, Czernin Palace.
Signing of MoUs
At the said forum, three memoranda of understanding were signed, including the MoU sealed between the Semiconductor and Electronics Industries in the Philippines Foundation Inc. and the Electrical and Electronic Association of the Czech Republic, aiming to foster cooperation in extensive initiatives on the bilateral exchange of information. It includes the organization of bilateral trade, economic development, exchange missions, skills and knowledge, and innovation.
The second MoU is between the IT & Business Process Association of the Philippines, Inc. and the Confederation of Industry of the Czech Republic which highlights cooperation for trade and investment promotion between both countries in areas of commercial and industrial relations in IT-BPM.
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