The Philippines and Sweden are exploring opportunities to deepen cooperation in energy, digitalization, manufacturing, and other strategic sectors to support economic growth and create more quality jobs for Filipinos.
This came after Finance Secretary Frederick Go welcomed Swedish Ambassador to the Philippines Anna Ferry and a Swedish delegation during a courtesy call on Tuesday aimed at strengthening economic cooperation and exploring opportunities for increased Swedish investments in the Philippines.
In a statement Thursday, the Department of Finance (DOF) said that during the courtesy call, Go underscored the Philippines’ commitment to attracting investments that generate employment and strengthen the country’s economic competitiveness.
“What we are pushing for is job creation. We welcome manufacturing investments, for instance, because it has the capability to create many jobs for the country’s highly skilled labor force,” Go said.
He added that the Philippine government is interested in attracting investments in renewable and clean energy, as well as digital technologies, including the adoption of artificial intelligence and cybersecurity solutions.
Trade Commissioner of Sweden to the Philippines Johan Lennefalk, meanwhile, cited Sweden’s extensive experience in fossil-free energy technologies and renewable energy solutions.
“In energy, of course, we are mostly fossil-free. We are working with the Swedish Energy Agency on various technologies, including floating offshore wind as well as integrated wind and solar solutions. We hope to see some installations down the line, and there are already two or three companies involved in these initiatives,” Lennefalk said.
Go likewise welcomed potential partnerships in healthcare, agriculture, food security, electronics, mineral processing, and the services sector, noting their potential to boost investment growth and employment generation.
Both sides exchanged views on expanding areas of cooperation to further strengthen bilateral economic relations between Manila and Stockholm.
For her part, Ferry expressed hope for the continued streamlining and acceleration of grant-processing procedures, which could help attract more investments and facilitate the timely implementation of development projects. (PNA)