The Philippines and Sweden are exploring expanded partnerships in renewable energy, as well as digitalization, manufacturing, and other strategic sectors, according to the Department of Finance (DOF).
During a 9 June meeting with a Swedish delegation, Finance Secretary Frederick Go said the government's focus is on attracting investments that generate employment and enhance the country's competitiveness, as both countries seek to boost investment flows, strengthen economic ties, and create more quality jobs for Filipinos.
“What we are pushing for is job creation. We welcome manufacturing investments because they have the capacity to create many jobs for the country’s highly skilled labor force,” Go said.
The finance chief also highlighted opportunities in renewable energy, clean technologies, and digital industries, including artificial intelligence and cybersecurity.
Meanwhile, Swedish Trade Commissioner Johan Lennefalk said Sweden is keen to deepen cooperation in the energy sector, citing the country's expertise in fossil-free and renewable technologies.
“In energy, of course, we are mostly fossil-free. We are working with the Swedish Energy Agency on various technologies, including floating offshore wind as well as integrated wind and solar solutions. We hope to see some installations down the line, and there are already two or three companies involved in these initiatives,” Lennefalk said.
Go also identified healthcare, agriculture, food security, electronics, mineral processing, and services as promising areas for future investment and collaboration.
Swedish Ambassador Anna Ferry added that Sweden is prepared to share its expertise, research capabilities and technology with the Philippines, while also expressing support for efforts to streamline grant processing and facilitate investment projects.
Both parties reaffirmed their commitment to strengthening bilateral economic relations through innovation, sustainable development and increased investment cooperation.
