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A GROUP
of German investors in the Philippines said the
political infrastructure in the government plays a major
hindrance in attracting more investments into the
country, citing the absence of a resolution to the
long-delayed opening of the $450-million Terminal 3 of
the Ninoy Aquino International Airport (Naia).
The
newly established German-Philippine Chamber of Commerce
and Industry (GPCCI) has lined up major areas for
investments that include physical infrastructure,
educational infrastructure and the “political
infrastructure that must be intact to be able to attract
more foreign investments.”
Franz
Roland Odenthal, president of the GPCCI, said several
companies in Germany are still monitoring the resolution
of the Fraport investments in the Naia Terminal 3. GPCCI
was established in early March this year with 44 members
made up of multinational and local companies.
“It is
being monitored in
Germany
in a way how it is being handled by the government
here,” said Odenthal at a press briefing at the German
Club office Wednesday in
Makati
City.
He said
the German investors are looking for an assurance that:
“I’m safe investing here [in the
Philippines].”
The
current Philippines-German bilateral trade volume worth
€3 billion (P189 billion) “calls for more active
stewardship over German and Filipino business interests
in the country,” said Odenthal.
Odenthal
added that the image of the Philippines in Germany
remains tied to the unresolved case of the Fraport
investments in Naia 3. “That image is still there... as
investments demand for sovereign guarantee.”
Dr.
Gunter Matschuk, first vice president of the GPCCI, said
a lot of foreign investors are interested in
rehabilitating a number of age-old hydroelectric power
plants in the
Philippines
to be able to make the energy sources in the country
more efficient.
Matschuk
is also president of Maschinen and Technik Inc. (Matec)
engaged in renewable energy for the last 30 years.
“But the
Philippines has slept so long [on this area],” said
Matschuk in an interview. He said rehabilitating
hydropower plants require long years of work, but the
Philippines has yet to act on the matter.
Odenthal
maintained that the Fraport case that has reached courts
in Washington and Singapore is not being handled
efficiently and has been a major concern for various
prospective investors in the Philippines.
Odenthal
noted that a lot of German investments in the pipeline
include areas in renewable energy, outsourcing in
software development, back-office services, information
technology, tourism and the maritime industry.
The
Philippines “still has a high level of necessity for
improvement” in terms of physical infrastructure that
includes good roads, railways, ports and airports.
Odenthal
added that the education infrastructure lies in the
availability of skills and knowledge in the engineering
and business administration disciplines.
He noted
that the mismatch between the available work force and
what the industry needs has become glaringly evident in
the recent job fair conducted by the European Chamber of
Commerce and Industry attended by at least 15,000
jobseekers.
“The job
fair [drew] some 15,000 applicants, but many of the
companies there were expecting a different level [of
qualifications] from the applicants,” said Odenthal.
Matschuk
said the chamber, which that has 13 members from
multinational corporations and 20 local members and
individual members, also aims to help Philippine
business groups like exporters engage business in
Germany through assistance in visa facilitation.
He said
visa restrictions being imposed by various countries
have become a barrier in trade facilitation, especially
with developing countries like the Philippines.
Philippine companies that will become members of the
GPCCI will also be assisted in terms of visa
applications when traveling to Germany through
endorsement by the chamber, said Matschuk. |
