Swedish companies and investments will be coming into the Philippines, targeting infrastructure, transportation and information communications technology, as the Swedish Embassy reopens after eight years.
Leading a 70-man delegation, Sweden Minister of Enterprise and Innovation Mikael Damberg said the government of Sweden sees impressive growth in the Philippines while urging more businesses to set up or expand in the country.
Damberg said infrastructure and transportation are areas of concern in the Philippines that Sweden can hopefully assist with as a partner.
“Swedish companies are already opening more stores. Ikea announced that they will open stores here in Manila but we also had discussions with the secretary of transport with the infrastructure plans of the Philippines at least in the transport sector where Sweden has huge and very successful companies, like Volvo or Scania, with the buses and trucks services so they are really interested to find new partnerships,” Damberg added.
Damberg also said reopening the embassy is part of a bigger strategy of Sweden to strengthen its presence in the Southeast Asian countries, which, in the past years, have lagged.
“We have strategic plans to be more present in Southeast Asia and in emerging markets. I think one of the weak spots of Sweden is that we are not as present as we want to be. That is why you should see the reopening in the Philippines as one part but we also are strengthening our position in other countries in this region,” Damberg said.
Meanwhile, no news yet of the exact date of the opening of furniture retail company Ikea in the country and whether they will be partnering with any of the big mall operators.
According to Business Sweden President and CEO Ylva Berg, despite some risks in doing business which companies identify by themselves, the Philippines provide an interesting and exciting business climate.
Berg said they are still looking closely into the stability of the country’s legal and regulatory systems while stressing that the country’s economy is fundamentally sound and growing.
Berg also commended the country’s highly educated work force, adding that there is also interest among Sweden businesses to develop vocational training in the Philippines, especially in the area of manufacturing and artificial intelligence.
“We see in Sweden and Europe that there is also a need to develop education that makes people more fit to handle increasing automation in manufacturing and artificial intelligence. It is not a very big or long education plan that we are looking at but a company that is providing a different kind of education, vocational education and a language that is adjusted to the special needs of that country,” Berg said.
Despite the absence of an embassy since 2008, Sweden continued to have consular presence in the form of honorary consulates in Manila and Cebu. Currently, there are also more than 40 Swedish companies operating in the country.
During Supertyphoon Yolanda in 2013, the Swedish Civil Contingencies Agency served as a key partner to the United Nations Development Programme, as it provided rehabilitation and reconstruction assistance along with emergency relief to affected families.
Moreover, in 2014 and 2015 King Carl XVI Gustaf visited the country and extended Swedish support for disaster-stricken Tacloban.
A main priority of the new embassy is to enhance business relationships between the two countries and to introduce Sweden to the Philippines as a modern and innovative country that places great importance to environmental sustainability, democracy, good governance, respect for human rights and the rule of law. Danielle Gabriel
