According to Trade Secretary Gregory Domingo, he has observed newfound interest from European and American companies for the business process outsourcing (BPO) sector of the Philippines. He said during his trip in the US late last month, American and European firms that have been involved in outsourcing are strongly considering venturing out in the Philippines.
Trade Undersecretary Ponciano Manalo, Jr. said even before the investment promotions event took place, the department wanted to attract businesses that are looking for animation and gaming development opportunities, as well as healthcare information management and information technology-business process management.
Meanwhile, Trade Undersecretary Adrian Cristobal, Jr. went to Iceland for the signing of the Joint Declaration on Cooperation (JDC) with representatives from the European Free Trade Association (EFTA). He told reporters that a geothermal company from Iceland is planning to explore more opportunities in the Philippines. The JDC represents the first crucial step to free trade agreement negotiations with the EFTA, which includes Iceland, Liechtenstein, Norway, and Switzerland.