New South Wales bets on PHL economy
OPTIMISM SPRINGS FROM DOWN UNDER as New South Wales looks to improve trade and investment relations with The Philippines, specifically in the technology and infrastructure sectors.
The good news comes after a visit by NSW Premier Gladys Berejiklian. In a statement last Monday, Department of Trade and Industry (DTI) Secretary Ramon Lopez announced that the NSW government is interested in boosting its economic relations with The Philippines.
New South Wales is located in Australia’s east coast.
“We welcome Australian investors and businesses that will help us uplift the lives of those at bottom of the pyramid and enable the Philippines to contribute in the global value chain. New South Wales has expressed strong confidence in our economy and the business environment stability under the Duterte Administration and wish to partner with us,” Lopez said.
“We will continue to work on opening areas of investment and increase employment and business opportunities for all Filipinos,” he added.
In Lopez’s meeting with Berejiklian, the trade chief emphasized the opportunity in our manufacturing sector, where Australian business can invest in, particularly in research and development.
On top of that, Berejiklian revealed that businesses from NSW are exploring opportunities in the country’s information and communications technology (ICT) industry. She said that The Philippines’ promising economic growth and workforce continue to be high selling points for Australian partners.
NSW is a top importer of telecommunications equipment and computers, passenger motor vehicles, medicaments, and refined petroleum.
via Philippine News Agency / Kris Crismundo
