The Department of Trade and Industry (DTI) formally launched its new international marketing campaign “Make It Happen in the Philippines”, highlighting five key investment priority sectors.
It is a unified, country-wide, and multi-sector investment campaign that aims to attract foreign investors to look into opportunities in aerospace, automotive, copper, information technology and business process management (IT-BPM), and electronics sectors.
“The country’s new investment promotion brand, Make it Happen in the Philippines, is more than just a brand or a tagline. It speaks of who we are as Filipinos and as a government. It highlights our genuine Filipino trait of resilience and ‘make it work’ mindset that exudes strength and adaptability even in times of adversity,” DTI Secretary Ramon Lopez said in his keynote speech.
He added the campaign is also a “promise” to Filipinos that the country will build back better amid the global health and economic crisis.
The country positions itself to become the hub for aerospace manufacturing and aftermarket services in the Asia Pacific.
The DTI said the existing aerospace supply chain can meet the diverse requirements of the industry as the Philippines houses Tier-1 suppliers of the world’s largest aerospace manufacturers such as Boeing and Airbus.
The country is currently producing aerospace parts, such as flight control actuation systems, interiors, lavatories, galleys, oxygen systems, and panel assembly as well as product design engineering.
Local aerospace maintenance and repair operations (MRO) is also growing as major international carriers choose the Philippines to maintain their fleets.
MRO capabilities in the country include line and base maintenance, fleet management, and cabin reconfiguration.
Aerospace players that are in the Philippines include Collins Aerospace, Moog Controls, Lufthansa Technik, and SIA Engineering.
The Philippines is also ready to cater to the rising export demand for automotive assembly and parts manufacturing with its extensive auto supply chain comprising over 380 parts manufacturers.
Major auto parts producers in the country include Yazaki Torres, International Wiring Systems, and Asian Transmission Corp.
On the other hand, major auto assemblers in the country include Toyota, Mitsubishi, Honda, Denso, KTM, Scania, and Volvo.
Having the fourth largest copper reserves in the world, the Philippines is well-placed to meet demands from domestic and international markets.
The country has a diverse extraction method and manufacturing to produce high-demand copper-based products such as cathodes, alloys, and foil.
The DTI targets to lure foreign companies to invest in building world-class copper mines, wire rod casting facilities, and manufacturing of higher-value copper products.
The country has copper reserves of 4 billion metric tons. Annually, 300,000 dry metric tons of copper are produced.
The Philippines is a well-known destination for IT-BPM investments with its English-speaking and tech-savvy workforce.
The DTI said the country can offer endless possibilities and potential in the IT-BPM sector with the synergies in manufacturing and services.
It has also been a cost-competitive destination for multinational companies to do their back offices here for the past two decades.
The Philippines accounts for 15 percent of the global IT-BPM market, the second largest in the world.
Host to around 500 global semiconductors and electronics firms, the Philippine electronics industry is a vital part of the global value chain.
The industry accounts for 61 percent of the country’s export revenues.
The DTI now eyes the country to become the home of competitive integrated circuit (IC) design firms.
There are also opportunities in the sector particularly in manufacturing, chip design, and original product design and development works for products and technologies in healthcare, automotive, aerospace, vehicle batteries, and smart wearable.
“We are confident that the launch of the Make it Happen in the Philippines campaign will relay a clear message across to the rest of the world that the Philippines is dynamic, agile, and resilient. Now, more than ever, we are ready to roll up our sleeves and make things happen for you,” Lopez said.*PNA