Daven Tamayo

Denmark sees ‘huge potential’ in investing in PH shipbuilding industry: envoy

International Container Services, Inc. (ICTSI) port  and terminal in Manila.

Article (news)

MANILA-PORT

Katrina Domingo

ABS-CBN News

MANILA — Denmark sees “huge potential” in investing in the Philippine shipbuilding industry, the European country’s ambassador said on Monday, noting that the move can easily create 2,000 new jobs here.Denmark is expected to “explore that in the spring of next year,” Danish Ambassador to the Philippines Franz-Michael Mellbin said in a chance interview.“We are looking at shipbuilding as one of the huge potential [in investments here],” he said.“I think this could be a breakthrough moment for the Philippines,” he said.“You only have 2,000 people employed in the shipbuilding sector. I think that could double,” he said.Denmark has been consistent in supporting the Philippines&#x27; rights and stance against China’s illegal presence and aggression in the West Philippine Sea.When asked how Copenhagen can support Manila in terms of beefing ups its capabilities in the West Philippine Sea, Mellbin said: “I think we will go at that in a different way in how some of your partners have been giving you ships.”“We believe you have the capability to build those ships yourselves. It will be part of the ship building initiative. It will be part of the success story,” he said.“If it proves successful? We will find out next year. [But] I am hopeful. I see the potential. I think the Filipino sees that also,” he said.Another Danish company “wants to make a very big investment in making green biofuels here,” Mellbin.“They are gonna go where there are biofuels, obviously, that’s not gonna be central Manila,” he said.“You go down to Mindanao, you have big plantations, you have a lot of green, you have a lot of more viable place to have that kind of business,” he said.Meantime, the Philippines and Denmark signed an agreement to put upNon-communicable diseases such as diabetes which is a big burden for the Filipino health system.There will be “specialized expert centers” for non-communicable diseases and an “exchange of medical information, including tips for health services,” the Ambassador said.As of 2023, bilateral trade between the Philippines and Denmark was pegged at $356.4 million, but the deficit is pegged at $181.9 million, data from the Philippine Trade Department showed.Last year, approved Danish investments in the Philippines was pegged at $2 million.“Danish companies are making huge investments in the Philippines but they are also doing it in those areas where the Philippines has been good at cutting red tape and streamlining processes and making sure that the business environment became more positive,” Mellbin.“Unfortunately the Philippines does not rank high in terms of doing business. There is still a lot more that the government needs to do,” he said.“If the Philippines makes it easier to invest, investors will come.”Investors are also looking for countries with a stable political landscape, said the Ambassador, who earlier said that he was “deeply concerned” over Vice President Sara Duterte’s threats against President Ferdinand Marcos Jr.“Political stability is important for all investors because it creates the environment where you can have a long term view,” he said.“It wasn’t the right direction to take. This country has had enough political violence in its past,” he said.“We do not believe in political violence. We do not believe that we should be passive or quiet.”

Denmark sees “huge potential” in investing in the Philippine shipbuilding industry, the European country’s ambassador said on Monday, noting that the move can easily create 2,000 new jobs here.

Denmark sees “huge potential” in investing in the Philippine shipbuilding industry, the European country’s ambassador said on Monday, noting that the move can easily create 2,000 new jobs here.