21 May 2012- The Philippine Investment Promotion Team to South Korea, headed by Trade and Industry Undersecretary Cristino L.Panlilio, successfully concluded its three-day mission to campaign for more Korean investments to the Philippines.
The team met with representatives of eight South Korean companies in Seoul and its outlying areas last May 14 to 16.
The highlight of the mission was the Investment Seminar on the Philippines, which was sponsored by the Philippine Embassy in Seoul through the Philippine Trade and Investment Center and the ASEAN-Korea Center.
The seminar attracted a total of 120 South Korean businessmen.
During the seminar, Undersecretary Panlilio discussed the investment climate and business environment in the Philippines.
Other speakers, on the other hand, spoke about specific investment opportunities in the Philippines, such as upgrading Mega Manila’s water security by Metropolitan Waterworks and Sewerage Systems (MWSS) Chairman Ramon Alikpala; infrastructure projects under the Public-Private Partnership (PPP) Program by Atty. Sherry Ann Austria of the PPP Center; investment environment and opportunities in the Laguna de Bay Region by Laguna Lake Development Authority Assistant General Manager Dolora Nepomuceno; and opportunities in the energy sector by Korea Electric Power Corporation (KEPCO) General Manager Bong-Choo Choi.
A one-on-one discussion among the participants and the five speakers followed after the seminar.
The immediate result of the seminar was the commitment made by some participants to conduct three investment missions to the Philippines during the next three weeks. They were mainly interested in the electronics industry, shipbuilding, and the development of electronic vehicles.
Last year, South Korea was the fifth largest investor in the Philippines, with a total of Php14.14 billion worth of approved investments.