Thirty more potential projects are being looked into but the appraisal of their investment values had not yet been concluded, he said.
“I must say that we succeeded in promoting the Philippines as an ideal investment destination for European companies based on the Philippines’ strategic geographic location in the East and Southeast Asian region, its rich natural resources for renewables and green metal processing, its large population, and its young dynamic and skilled workforce,” Pascual said in his speech during the government agency’s flag raising ceremony.
“European countries are significant contributors to foreign direct investment in the Philippines. Indeed, in 2021 and 2022, the EU stood out as one of our most important foreign investment partners, with total investments reaching around 836 million euros ,” he added. The EU is also the Philippines’ fourth largest trading partner by regional bloc, with trade in goods between the two totaling €15.2 billion in 2021, according to the European Commission.