Philippine companies stand to gain from European companies that are adopting the ‘China Plus-one policy’, as they look to diversify their resources, according to the German-Philippine Chamber of Commerce and Industry (GPCCI).
PHILIPPINE companies stand to gain from European companies that are adopting the ‘China Plus-one policy’, as they look to diversify their resources, according to the German-Philippine Chamber of Commerce and Industry .
As to the Philippine sectors that German companies plan to invest in, Zimmer said, “Energy for sure because this is one of the strongholds of the German economy.” Still, the GPCCI official said other sectors that the companies are looking at are: business process outsourcing , medical companies, and manufacturing, although he said that German companies are on a “high competition” with European firms in terms of manufacturing.
At a recent chance interview with Philippines’s Trade Secretary Alfredo E. Pascual, the Trade chief underscored the importance of diversifying supply, noting that it’s risky to just rely on a single source country especially with the recent “geopolitical developments.”
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