“Green Business Opportunities in the Philippines” investment seminar was held on Tuesday 3/25. The seminar welcomed Mr. Ponciano C. Manalo Jr., the undersecretary of the Department of Trade and Industry to Taiwan. Welcome and opening remarks were presented by Ambassador Antonio Basilio and Mr. Yang Hung from the Taiwan Department of Investment Services. Investment opportunities in green energy were presented and analyzed by Mr. Manalo, and Ms. Karen Ma of ITRI. Mr. George Lien of TECO Group shared the company’s experiences in the Philippines as one of the largest Taiwanese green energy companies in the country.
Mr. Manalo gave an exciting presentation on the investment environment of the Philippines. With improved global competitiveness ranking and healthy fiscal policies, the country is rapidly becoming an investment favorite of many global corporations. He states that the greatest advantages of doing business in the Philippines are its cheerful labor, resilience and work ethics.
Mr. Lien of TECO Group shared with the audience the company’s experience investing in Southeast Asia. As domestic demand increases in the Philippines, foreign companies set up on the island could provide for both export and domestic sales. Moreover, the Philippines has a very Americanized culture and its people are easy to communicate with. Many outsourcing opportunities for IT services have moved from South Asia to the Philippines and it is expected to become the next big market for software development.
Ms. Ma delivered an informative presentation on the solar energy market. Due to geographic restrictions and grid electrification difficulties, independent energy systems are needed in rural areas. On-grid or hybrid solar energy systems and related equipment are also in demand because of high electricity costs and established net-metering policies.
Left to right: Philippines trade representative to Taiwan Mr. Ben Uy; Undersecretary Ponciano Manalo; TECO Group Mr. George Lien; ITRI Ms. Karen Ma.
The business information seminar is followed by a welcome dinner for Mr. Manalo. Through this opportunity, the organizers wish to improve relations between Taiwan and the Philippines.