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The Philippines on Tuesday invited the Indian industry to invest in sectors like mining, BPO, food processing and tourism. “BPO is a well established area ... Besides, mining, tourism, electronics manufacturing, automobiles and garments are the other potential areas,” the Secretary (Cabinet Minister), Department of Trade and Industry, the Philippines, Mr Gregory L. Domingo, said here.
The Philippines Government considers the BPO sector as a priority for investment. Foreign mining companies like Anglo American, BHP Billiton and Sumitomo Mining already have their presence in the Philippines. Further, Domingo said the country is reviewing easing visa procedures for Indian corporates. In 2009-10, bilateral trade between India and the Philippines stood at over $1 billion.
Main exports to the Philippines include electronic integrated circuits and micro-assemblies, phosphoric acid, while imports are flat-rolled steel and iron-ore products.
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