Increasing interests in Philippines from German firms

Inquiries from German investors have been picking up since the latter part of 2013 even amid the desolation caused by typhoon Yolanda.

Brenda Baylon, business development manager at German-Philippine Chamber of Commerce and Industry (GPCCI), said the daily inquiries from the European nation are "overwhelming."

She added that German companies are taking notice of the country's improving image in the world economic scene.

She also noted the increase of the German chamber's membership from 28 firms in 2008 to 208 companies at the start of 2014.

Describing the profile of the firms expressing interest in furnishing capital, Baylon said most come from the energy sector specifically involving the construction of substations, transmission lines, power plants, civil engineering, and designs.

Many also come from the electronics and technology sectors, she added.

The chamber has been coordinating with the German firms to bring them into the Philippine market.
Investments from Germany to the Philippines reached $44 million Q1 2013.

Germany, meanwhile, only invested $47 million throughout the 2011-2012 fiscal year.