THE Department of Trade and Industry (DTI) is actively seeking investments from companies in New Zealand to boost innovation and technology in the Philippines.
Delegates from the Philippines, led by Trade Undersecretary Allan Gepty, highlighted investment opportunities at the "Make it Happen in the Philippines: A Business Forum and Networking Night" held in Auckland on May 27.
Gepty reiterated the country's drive to create an environment that nurtures innovation and scientific discovery.
"Our vibrant tech industry, burgeoning startup scene and world-class research institutions are testament to this," he said.
Representatives from the Philippine Economic Zone Authority (PEZA) and Subic Bay Metropolitan Authority also discussed investment opportunities for New Zealand-based companies in the country's economic and freeport zones.
PEZA Deputy Director General for Finance and Administration Maria Veronica Magsino highlighted the agency's latest developments in ecozone development such as aerotropolis parks; agro-forestry parks; biotech centers; financial technology hubs; knowledge, innovation, science and technology parks; and startup ecozones, among others.
"With PEZA's one-stop and nonstop shop, foreign investors are assured of 24/7 continuous assistance, adherence to the Anti-Red Tape mandate, International Organization for Standardization certification, protection of the environment and rights of Filipino workers," Magsino said.
Gepty also said that the Philippine economy has remained resilient, posting a 5.6-percent gross domestic product growth last year.
"This strong economic performance and projections mean that there are a lot of economic activities going on in the country," said Gepty.
Representatives from the Philippines and New Zealand also discussed working together in agricultural technology and innovation, agribusiness, renewable energy, education and skills, digital infrastructure, including maximizing the Philippines' expertise in information technology and business process management.
Gepty added that there are still a lot of untapped platforms for trade with New Zealand such as the Asean-Australia-New Zealand Free Trade Area, Regional Comprehensive Economic Partnership and Indo-Pacific Economic Framework for Prosperity. Asean is the Association of Southeast Asian Nations.
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