January 30, 2013

Food and Power Projects capture the Attention of Turkish Businessmen

Food, power, furniture, and construction captured the the eyes of Turkish businessmen and they are likely to invest to it in the Philippines. The reason for this is that they see it as a good place for exporting to Southeast Asia.

According to chairman of the Philippine-Turkish Business Council Ernesto Chua, There are already 12 companies that are in various processes in building businesses here in the Philippines while the other 10 are also having some interest in establishing their own. He also added that Ahmet, Altintas-Video, chairman of the Confederation of Businessmen and Industrialists of Turkey has led to the advent of other businessmen from turkey for some different business missions.

He said that the Philippines now has a good image as an investment destination for other countries. He also added that there are several companies interested in investing in manufacturing products for export such as flour and furniture.

For the public-private partnership sector, members of Turkish delegation are also interested in participating. Chua also said the Bases Conversion and Development Authority in Turkey was invited to visit the Philippines to participate and invest in the development of Bonifacio South Pointe and the planned "new city" in Clark, Pampanga

The council will help the 22 Turkish businessmen in going to the bureaucracy so that they could start in their prospected projects as soon as possible according to Chua.

This is one of the successful bilateral trade between Philippines and Turkey because it has doubled to $400 million last year from the last two years. Seven investments and trade missions from Turkey had took place last year according to Chua.