Philippines invites Indian investment in mining, BPO sectors

NEW DELHI: The Philippines today invited the Indian industry to invest in its sectors like mining, BPO, food processing and tourism.

"BPO is a well established area ... Besides, mining, tourism, electronics manufacturing, automobiles and garments are the other potential areas," the Secretary (Cabinet Minister), Department of Trade and Industry, the Philippines, Gregory L Domingo, said here.

The Philippines government considers the BPO sector as a preferred business activity in its investment priorities plan.

Foreign mining companies like Anglo American, BHP Billiton and Sumitomo Mining already have their presence in the Philippines.

Further, Domingo said that the country is reviewing easing visa procedures for Indian corporates to encourage more investments from India.

In 2009-10, the bilateral trade between India and the Philippines stood at over $ 1 billion.

The main exports to the Philippines include electronic integrated circuits and micro assemblies, phosphoric acid, while imports are flat-rolled steel and iron ore products.