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Manila Bulletin devider Business devider Trade & Industry devider PH courts Airbus, Siemens investments

PH courts Airbus, Siemens investments

Published Mar 13, 2024 10:04 am

Trade and Industry (DTI) Secretary Alfredo E. Pascual said the Philippine delegation in Germany met with the country’s largest conglomerates, including Airbus and Siemens, to encourage them to expand their presence in the Philippines.

Already, President Ferdinand Marcos Jr. reported of $4 billion investments to the Philippines from German companies. Pascual said the commitments are strong indicators of the growing partnership between the two countries, citing aligned economic interests and priorities. 

Pascual joined the delegation led by Marcos in a working visit to Germany on March 12, which yielded three letters of intent (LOI), three memoranda of understanding (MOU), and two memoranda of agreements (MOA). 

“These agreements only signify the confidence that German businesses placed in the Philippines, but they also underscore the alignment of our economic priorities. Spanning key sectors such as healthcare, manufacturing, innovation, agriculture, and renewable energy, these ventures hold promise of shared prosperity and sustainable development,” Pascual said. 

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From L to R: Department of Foreign Affairs Secretary Enrique Manalo, Department of Trade and Industry Secretary Fred Pascual, House of Representatives Speaker Ferdinand Martin Romualdez, President Ferdinand Marcos Jr., German Federal Ministry of Economic Affairs and Climate Action (BMWK) Parliamentary State Secretary Stefan Wenzel, Siemens AG President and Chief Executive Officer Dr. Roland Busch (Photo from DTI)

The forum was organized by the Philippine Trade and Investment Center (PTIC)-Berlin with the Asien Pazifik Auschuss (APA/Asia Pacific Committee of the German Business) and the German Federal Ministry of Economic Affairs and Climate Action (BMWK), and participated by more than 100 German firms. 

Panel discussions and networking events were held to promote business opportunities for German companies and strengthen existing ties for German businesses operating in the Philippines, moderated by Stephan Schmidt of the German- Philippine Chamber of Commerce, and featured Jaime Alfonso Zobel de Ayala, Chief Executive Officer of AC Motors Group, and Vijay Ratnapharke, Bosch President for Southeast Asia. 

On the sidelines of the forum, Pascual also met with firms such as Siemen, Airbus, and WPD to discuss forthcoming initiatives and prospects. 

During his meeting with Siemens AG, headed by President and CEO Dr. Roland Busch, Pascual highlighted the Philippines as a major data center hub, offering digital services for global hyperscalers. 

Through its subsidiary Siemens Healthcare, Inc., it shared that it intends to establish the Siemens Healthineers Training Center, to offer advanced healthcare imaging and cancer care solutions in the Southeast Asian region. 

Siemens also said it aims to inaugurate an Innovation Think Tank in the country. 

As the Chairman of the APA, which comprises the Federation of German Industries (BDI), German Chamber of Commerce and Industry, German Asia-Pacific Business Association, Federation of German Wholesale, Foreign Trade and Services, and the Association of German Banks, Busch shared the organization's support for the European Union (EU) - Philippines Free Trade Agreement (FTA), saying it will open new areas for economic cooperation.

In their talks with Airbus, its President and Head of the Airbus Asia-Pacific region Anand Stanley said it is willing to help the Philippines strengthen its defense sector, particularly in supporting the Re-Horizon3 Philippine Armed Forces modernization program.

To date, Airbus is the only foreign original equipment manufacturer (OEM) in a joint venture partnership with the Philippines Aerospace Development Corporation. 

Airbus also holds a 100 percent market share of the narrowbody segment and 70 percent market share of the widebody segment among Filipino carries like Philippine Airlines (PAL) and Cebu Pacific (CEB). 

Lastly, Pascual met with WPD Chief Financial Officer (CFO) Björn Nullmeyer and General Manager - Asia Hans-Christoph Brumberg to discuss their proposed investments in renewable energy (RE). These include ongoing onshore wind farm projects in Negros Occidental, Guimaras, and Cavite, with an initial value of P392.4 billion, which is the largest investment from Germany to date. 

WPD is also in the pre-development stage for onshore projects in the Ilocos Region, Aklan, Iloilo, Antique, and Bulacan with an investment value of P56 billion, and to be completed between 2027 and 2030.

“The DTI will continue to assist WPD in navigating its way through the regulatory bureaucracy in the Philippines. Through the Board of Investments (BOI), one of our attached investment promotion agencies, we will work closely with your company to fast- track your application for green lane under Executive Order No. 18, which constitutes Green Lanes for Strategic Investments,” Pascual said.

Members of the Philippine business delegation with Marcos were AC Motors CEO Jaime Alfonso Zobel de Ayala, PLDT Inc. Chairman & CEO Manuel Pangilinan, VP Earl Qua, ITBPAP President & CEO Jack Madrid, Asia Green Carbon Holdings CEO Ronnie Co, Philippine Airlines President & CEO Stanley Ng, Cosmic Technologies CEO Maynard Ngu, Trion Group Chair & CEO Ronald Siasoyco, Manila Electric Company COO Ronnie Aperocho, and Siemens Healthcare Philippines President Heinz Michael Schmermer. 

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