THE country’s growing economy and stable business environment attracted over 300 Canadian investors to seek business opportunities in the Philippines, the Embassy of Canada in Manila said.
Senior Trade Commissioner Guy Boileau of the Canadian Embassy on Thursday said that a “powerhouse” business delegation dubbed Team Canada Mission (TCM) will visit the Philippines from Dec. 5 to 7.
Boileau said the mission is composed of leading Canadian business leaders from diverse industries.
“The Philippines is a growing economy with English-speaking and very young tech-savvy population, We’ve seen significant economic reforms [in the country] during the past years,” he said.
Boileau lauded the laws passed which created a stable business environment for prospective foreign investors. He cited the CREATE MORE Act, the Public Private Partnership Code, the Anti-Red Tape Act, and Government Procurement Law, among others.
He raised the importance of “predictability and regulatory stability” in creating a sound business climate.
The TCM aims to “provide a platform to and diversify our business portfolio,” Boileau said in a briefing on Thursday. The TCM will also meet with Filipino business groups in Cebu and Davao.
The trade mission hopes to explore opportunities in food security, clean air technology, infrastructure, information and communications technology.
“Because of the growing economy of the country, there are a lot of opportunities to invest in the Philippines. The Philippines now is not the Philippines a few years ago,” Boileau said.
Andrew Greene, the embassy’s political and public affairs counsellor, said that Canada’s trade and investment relationship with the Philippines “is growing by leaps and bounds.”
“It was not surprising then when Canada announced the Indo-Pacific strategy in 2022 that the Philippines is centered as a priority partner,” Greene said
“This TCM is very important for us in capping off 75 years of our bilateral relationship,” Boileau added.
