27 May 2016– The Philippine Embassy in Madrid held a conference on investment opportunities in the Philippines in Valencia on April 27, the third economic conference organized by the Embassy for the year. The event was conducted in coordination with the Philippine Consulate in Valencia and IVACE (Valencian Institute of Business Competitiveness).

In her remarks, IVACE Director General for Internationalization Mónica Cucarella encouraged Valencian companies to look at the Philippine market as a strong alternative destination for their respective businesses, in view of the economy´s stellar performance as well as the establishment of the ASEAN Economic Community.

Philippine Ambassador to Spain Carlos C. Salinas, in his presentation, underscored the positive economic developments in the country for the conference participants to look at the Philippines as a strong alternative destination for their respective businesses. About 27 companies from various sectors were represented in the conference. Twelve of these companies had a brief one-on-one meeting with the Ambassador and the Honorary Consular Officer to Valencia, Atty. Manuel Carrión, after the conference.

Ambassador Salinas seconded the statement of Ms. Cucarella on the ASEAN Economic Community, as he encouraged participants to look for Filipino businessmen whom they can partner with, should they consider penetrating the ASEAN market with a population of 650 million.

One of the objectives of the conference was to strongly encourage Valencian companies to visit the Philippines by participating in the Trade Mission to Manila being organized by IVACE for November 2016. Valencia is the third largest city in Spain in terms of population and contribution to the Spanish economy. It is a home to local and foreign companies in the agriculture, service, energy, RDI, manufacture, construction, engineering and infrastructure sectors.

Before the Conference, Ambassador Salinas and Honorary Consul Carrión met with Mr. Rafael Climent Gonzalez, Chief for Economic Affairs of the Government of Valencia. During the meeting, they discussed possible cooperation to further promote the Philippines to Valencian companies and people as an alternative destination for investment and tourism.

IVACE is a public unit of the Valencian government that manages the industrial and energy policies of the region, and provides business support for innovation, entrepreneurship, and internationalization. END