A high-level German business mission that recently visited the country has expressed interest in local information and communications technology (ICT) and knowledge-process outsourcing (KPO) sector, and game development.
Parliamentary State Secretary Brigitte Zypries of the German Federal Ministry for Economic Affairs and Energy led a business mission to the Philippines last week, according to the Department of Trade and Industry (DTI).
Trade Undersecretary Ponciano C. Manalo met with Zypries and German Ambassador to the Philippines Thomas Ossowski, to discuss the sectoral focus of German industries in the Philippines, as well as new areas of possible investments.
Zypries expressed interest in the ICT and KPO sector, and game development during the meeting with the DTI, and similarly inquired on the incentive package for car companies in the DTI’s manufacturing-boosting program, the Comprehensive Automotive Resurgence Strategy Program.
Zypries’s Philippine visit also marked the formal induction of the German-Philippine Chamber of Commerce and Industry into the German Chambers of Commerce network, which is expected to provide an added boost to bilateral trade and investments.
Germany is the Philippines’s biggest European trade partner and among the country’s biggest official development assistance partners. Two-way trade hit $5.3 billion in 2014, a significant boost from the $4.7 billion registered in 2013.