PARIS-In preparation for the upcoming Business Mission to the Philippines on November 3 to 5, Mouvement des Entreprises de France (MEDEF) International-a non-profit association of more than 170,000 firms in the French private business sector, held the France-Philippines Business Council Meeting last October 10 to register more French companies interested in joining next month’s business mission to the Philippines.
MEDEF International’s Deputy CEO Geraldine Lemble chaired the meeting, as she shared that the association’s interest lies in four major areas: infrastructure, energy diversification, agrifood and food security, as well as security and defense. All these sectors align with the Philippines’ priority industries outlined under the national government’s ‘Build Better More’ program.
Recognizing the invaluable French expertise in the following sectors, the Philippines presented investment opportunities available to French investors categorized under high-value services, smart and sustainable manufacturing, sustainability-related investments, flagship infrastructure projects, shipbuilding and ship repair.
Deputy Head of Southeast Asia for the French Ministry of Economy, Finance and Industry Jérémy Mulate is in charge of improving the Philippines-France business environment by facilitating exchanges of goods and increasing French investments in the country-particularly in the sectors of transport, telecommunications, energy, agriculture and public works.
Eager to witness the wrap-up of the Philippine-European Union (EU) Free Trade Agreement’s (FTA) ongoing negotiations, Mulate pledged the French Ministry’s support toward resolving market-access issues.
In his keynote, Ambassador Eduardo José de Vega stated that the Philippines is the right partner for MEDEF’s commercial interests, with the country’s implementation of key structural reform policies and better incentive regime for foreign investors.
De Vega emphasized that the CREATE MORE Act, Constituting Green Lanes for Strategic Investments and Investors’ Lease Act are examples of improvements which aim to attract investors and facilitate business processes.
Capitalizing on the momentum generated by the Philippines-EU FTA’s fourth round of negotiations, the country’s ambassador to France called on MEDEF to seize the opportunity of being a prime investor and entering the Philippine market, ahead of and in anticipation of the agreement’s wider benefits that will come after it takes effect.
The last MEDEF Business Mission to the Philippines was in 2022. For the November mission, the French participants will be joined by the embassy’s Philippine Trade and Investment Center Representative.