This was the perception of an information and communications technology (ICT) investment mission led by former Trade and Industry Undersecretary Vicente Perez following a recent seven-city European visit.
In his last meeting with the BOI press corps, Perez said the three telecommunications firms expressed interest in developing more mobile application software and outsourcing.
"The Philippine ICT investment mission conducted briefings for potential investors in Finland, Sweden, Germany, Switzerland, the United Kingdom and the Netherlands.
According to Perez, the European investors were actually impressed about the Philippines and its reputation as the texting capital of the world.
"The Philippines needs to be marketed further as an investment destination," Perez said, adding that "investors want to know more details."
"Investors were also concerned on the passage of the power reform bill," he said.
The ICT mission to Europe was conducted in the last two weeks of May. After Perez returned, the power reform bill was finally passed and signed into law and Perez has since been appointed the new Secretary of Energy, replacing Isidro Camacho who has been assigned to head the Department of Finance.
Perez also disclosed that during the ICT mission to Europe, the Philippines signed a memorandum of understanding (MOU) with SPI Technology and EI Sevier for a scientific data conversion project.