MANILA, Philippines - The Philippine Chamber of Commerce and Industry (PCCI) plans to encourage firms from countries outside of the Association of Southeast Asian Nations (ASEAN) to consider the Philippines as a manufacturing hub for products for export to the region.
PCCI president Alfredo Yao told reporters the PCCI would actively implement the “Kakampi” initiative which would get more firms outside of the Asean to set up facilities here for manufacturing products to be exported to neighboring Asean countries.
“We are looking for people outside of the Asean to use the Philippines as a hub to export. When they put their plant here, they can use it as a hub for the zero tariff (on products) going to our ASEAN brother countries,” he said.
The PCCI wants to attract companies from economies such as Japan, Taiwan, South Korea, as well as Europe.
As part of the Kakampi initiative, Yao said a business mission from Japan composed of 30 firms from various sectors, is expected to arrive in the country in February or March next year.
The PCCI is hopeful the visit would enable the members of the mission to see opportunities available here and how the country could serve as hub to enter other markets in the Asean.
The Asean is set to establish an economic community which is expected to allow free flow of goods, services, skilled labor, investments and capital within the region, by the end of 2015.
The Asean’s economic integration would open opportunities for businesses operating here as the Philippines is part of the region which is set to become among the largest economies in the world and has a combined consumer market of over 600 million people.
Among the advantages of the country over its peers in the region is the availability of a young English-speaking workforce that could easily be trained.
The PCCI, which is the country’s largest business organization, is working with its partner organizations in other parts of the world in hosting business missions here.
The business missions are not only intended to promote the country as hub in the region but also to encourage partnerships between local and foreign firms.
This, as the business group supports the government’s goal of making the Philippines an attractive destination for investments to create jobs and achieve inclusive economic growth.