PRAGUE, Czech Republic – Pres. Ferdinand R. Marcos Jr. together with DTI secretary Fred Pascual and the Philippine delegation welcomed on Friday, March 15, the signing of agreements during the Philippine-Czech Business Forum held at the Ministry of Foreign Affairs, Czernin Palace.
The country’s delegation underscored the signing as a positive step forward, leveraging the complementary strengths of both nations in the semiconductor and information technology and business process outsourcing (IT-BPO) sectors.
“We recognize that there is ample opportunity to enhance bilateral investment flows, leveraging the complementary nature of our economies, notably within priority sectors such as electronics manufacturing and IT-BPO. These sectors are pivotal in pursuing sustainable economic growth,” Pascual said.
During the forum, three memoranda of understanding (MOU) were signed.
The first MOU is between the Semiconductor and Electronics Industries in the Philippines Foundation Inc. (SEIPI) and the Electrical and Electronic Association of the Czech Republic which is aimed at fostering cooperation in extensive initiatives on the bilateral exchange of information.
It includes the organization of bilateral trade, economic development, exchange missions, skills and knowledge, and innovation.
The second MOU was between the IT & Business Process Association of the Philippines and the Confederation of Industry of the Czech Republic which highlights cooperation for trade and investment promotion between both countries in areas of commercial and industrial relations (in IT-BPM).
It involves an exchange of best practices on influencing government policies and playing an active role in policy-making, talent development, and encouraging responsible AI implementation.
The third MOU is between the Philippine Chamber of Commerce and Industry and the Confederation of Industry of the Czech Republic which will center on the promotion of trade and investment between both nations.
This will be in the areas of commercial and industrial relations (in IT-BPO), exchange of trade missions, organizing trade exhibits and fairs, handling business inquiries, research, education, and training.
Marcos Jr. and Pascual also met representatives from Czech tech giant ERA to explore the company’s interest in expanding its presence in the Philippines.
ERA is involved in the development and manufacture of surveillance, reconnaissance technologies, and flight tracking systems. It plans to establish its presence in the Philippines and also advance the country’s crucial industry sectors including software development, IT infrastructure support, manufacturing, final assembly, and maintenance services.
“ERA’s plans align perfectly with the Philippines’ strategic vision for economic development. We’re excited about the immense potential for collaboration and technological knowledge transfer between ERA and other leading industrial players,” said Pascual.
During the meeting, Pascual supported ERA’s bids as he highlighted the potential benefits of localization and joint ventures in key sectors. He stressed that this collaboration will foster cooperation between ERA and Philippine companies, ultimately boosting the country’s technological capabilities.
ERA plans to tap into the Philippines’ proven track record in electronics manufacturing. The country hosts over 1,000 companies operating in the semiconductor and electronics industry, employing approximately 3 million workers.
Additionally, the country offers a strategic network with global electronics giant such as Infineon, TDK Philippines Corporation, and Dyson, already established in the Philippines.
The Philippines also touts the 800,000 annual graduates across various disciplines, providing a reliable pool of talent for companies like ERA seeking to expand their operations in the Philippines.
