PH Embassy in Madrid Holds Business, Investment Seminar at Camara de Comercio de Madrid
Philippine Ambassador to Spain, Philippe J. Lhuillier (second from right), delivers opening remarks at the Philippine Business Seminar held at the Cámara de Comercio de Madrid. (Madrid PE photo)

MADRID 02 January 2020 — The Philippine Embassy in Madrid, in cooperation with the Camara de Comercio de Madrid (Chamber of Commerce of Madrid), held a business and investment seminar to promote economic opportunities in the Philippines and provide Spanish companies with details on how to enter the Philippine market on 10 December 2019.

The event, hosted at the premises of Cámara de Comercio de Madrid, saw the attendance of almost 70 companies in and around the Madrid autonomous community. Participants came from diverse sectors, including infrastructure, construction and engineering, pharmaceuticals, food and beverages, real estate and hotel development, emergency services and products, telecommunications, education, and shipping and logistics.

Philippine Ambassador to Spain Philippe J. Lhuillier, in his opening remarks, highlighted the continuous rapid economic growth of the Philippines in the past years. He informed attendees of the Duterte administration’s strong focus on infrastructure development through its flagship Build, Build, Build initiative, while adding that this was a huge opportunity for Spain as many of its companies are noted known for their expertise in construction.

Ambassador Lhuillier also noted that a number of Philippine companies have already made large investments in Spain as well, and that the government had recently purchased a number of aircraft from Spain as part of the Armed Forces of the Philippines (AFP) Modernization Program. He encouraged Spanish companies to consider the Philippines as their potential regional hub for operations in Southeast Asia, given the close cultural and historical affinity that both countries share, and the access that the Philippines has to the greater ASEAN market of 650 million consumers.

Third Secretary and Vice Consul Mikhal de Dios presented specific information on the Philippines’ country profile and priority sectors, its strong record of economic development, and the numerous reforms undertaken by the current administration to improve the ease of doing business. He also discussed the incentives for renewable energy investments in the country, the GSP+ status with the European Union (EU) that the Philippines enjoys, and the current state of bilateral trade and investment relations with Spain.

Head of the Philippine Trade and Investment Center (PTIC) in Paris Commercial Counsellor Froilan Pamintuan presented the details of the Foreign Investment Act and the numerous options for entry of foreign corporations into the Philippines. He then described the different types of special visas for investors and gave a general overview of investment incentives. He also highlighted the Philippines’ annual sectoral trade fairs and expositions that are open to foreign participants, including Manila FAME.

The seminar moved to an open forum and networking reception, before concluding with one-on-one company meetings, in which the Embassy officials and PTIC Paris jointly addressed concerns and queries from several individual companies. END

Spanish company representatives listen to the presentations during the seminar. (Madrid PE photo)

Philippine Ambassador to Spain, Philippe J. Lhuillier signs the ceremonial registry at the Cámara de Comercio de Madrid, as Commercial Counsellor Pamintuan, a Cámara official, Vice Consul de Dios, and Sub-director Elsa Salvadores look on (left to right). (Madrid PE photo)

For more information, visit  https://www.madripe.dfa.gov.ph, https://www.philembassymadrid.com or https://www.facebook.com/PHinSpain/.