PH eyes more Swedish investments in RE, digitalization for job creation

The Philippines is looking to attract more investments from Sweden, particularly in renewable energy, digitalization, and manufacturing, as the government seeks to create more quality jobs for Filipinos moving forward.

During talks with top Swedish officials, Department of Finance (DOF) secretary Frederick Go said the government is prioritizing investments that can boost local employment and support economic competitiveness.

“What we are pushing for is job creation. We welcome manufacturing investments, for instance, because it has the capability to crate many jobs for the country’s highly skilled labor force,” Go was quoted as saying in a DOF statement released on Thursday.

Go also said the Philippines is open for partnerships in healthcare, agriculture, food security, electronics, mineral processing, and services, as he cited their potential in investments and employment.

Trade Commission of Sweden to the Philippines Johan Lennafalk, for his part, hinted at possible investment opportunities moving forward, particularly in the energy sector.

“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,” he said.

“We hope to see some installations down the line, and there are already two or three companies involved in these initiatives,” Lennafalk added.

There were 2.41 million jobless Filipinos in April, translating to an unemployment rate of 4.7%. This compares with 2.06 million unemployed Filipinos a year ago, when the unemployment rate was 4.1%. — JMA, GMA News