Prague – Philippine Ambassador to the Czech Republic Ombra T. Jainal invited member-companies of the International Chamber of Commerce in the Czech Republic to invest in the Philippines at the “Territorial Workshop: Philippines” held at the Kinstellar in Prague on 01 September 2021.
“The Philippines remains as one of the top emerging economies and countries for investments. Reliable international entities, such as Japan Credit Rating Agency, Moody’s and S&P Global Rating, continue to give good credit ratings to the Philippines,” said Ambassador Jainal.
The Ambassador emphasized the strong recovery of the Philippine economy in the second quarter of 2021 due to the 20.8% growth of the industry sector and the 9.6% positive rate performance of the services sector. He added that the country is on track to achieving a growth of 4% to 5% in 2021.
Meanwhile, Minister and Consul General Indhira C. Bañares highlighted the implementation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act; unrestricted movement of critical products and people (especially during the pandemic); highly talented and dedicated Filipino workers; the availability of economic and industrial zones in key locations, including New Clark City; and, infrastructure development as among the major advantages of investing in the Philippines.
Key sectors promoted were aerospace manufacturing and services, defense, automotive and transportation, food and beverage, and IT-BPM. At the workshop were representatives of Czech companies, such as Ataco, Aura CZ, Fiege, Frentech Aerospace, and Skoda Auto.
As part of the workshop, Home Credit, a consumer finance company that employs thousands of workers in the Philippines, gave its testimony on doing business in the country.