German companies remain interested in investment prospects and business process outsourcing (BPO) in the Philippines as they see great potential for trade and investment, according to Martin Henkelmann, executive director of the German-Philippine Chamber of Commerce and Industry (GPCCI).
German firms are particularly keen to invest in the business process outsourcing (BPO), infrastructure and energy industries. They also plan to export Philippine food products and bring in high-end machinery.
Henkelmann explained that the country’s strong BPO industry is the main driver for German companies to outsource services here to serve their English-speaking clients. The government’s aggressive infrastructure program is another factor that attracts the companies to the engineering and construction sector.
Deutsche Regis Partners, Inc. chief strategist Rafael Garchitorena mentioned some positive developments in the local market this year due to macro fundamental reasons, including a strong market reflected in the stock market and exchange rate.
The Philippine Stock Exchange (PSE) index grew by 7 percent in the first two weeks of 2019 and is up by 17 percent from November.