Swedish firms eager to invest in the Philippines

Swedish firms are interested in investing in manufacturing in the country after a business delegation was in the country last month, the Trade department said in a statement yesterday.

A total of 12 companies from Sweden had a briefing with the Trade department to discuss investment opportunities in the Philippines.

“I believe that there is great potential for an increased bilateral dialogue between the Philippines and Sweden and strengthened business and industrial relationships,” said Head of Delegation Eva Walder who is also the director-general for Trade of the Swedish Ministry of Foreign Affairs in the statement.

Companies represented in the delegation were Atlas Copco Group, Celemi Systems AB, Clean Motion, Comex International, AB Electrolux, Telefonaktiebolaget L.M. Ericsson, Svenska Handelsbanken AB, Ikano Group, SEK, Tetra Pak, Volvo Car Corp. and the Swedish Foreign Trade Association.

“What is encouraging for us is the heightened interest of foreign investors in the Philippines. There is a solid stream of business missions coming and we believe this as a vote of confidence in our government’s capacity to effect significant long-term structural and policy reforms,” said Trade Undersecretary Adrian S. Cristobal, Jr.

He added that “strategic investments in these high-potential growth sectors, especially in manufacturing, generate employment opportunities and stimulate more development in the rural areas.”

Philippines sells global bonds to fund deficit

MANILA, Philippines – The Philippines sold dollar-denominated bonds to foreign investors for the second time this year, a move seen to fund its ballooning budget deficit.

After selling $1.5 billion global bonds in January, the national government sold $750 million worth of 6.5 percent dollar-denominated securities which will fall due in 2020.

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