Finland has expressed interest in investing in the Philippines, according to the Department of Finance’s (DoF) Secretary Carlos G. Dominguez III. 

In a virtual forum on Wednesday (April 14), Dominguez joined Finnish Ambassador to Manila Juha Pyykkö in discussing ways of strengthening the two country’s bilateral partnerships – with one being in the form of investments. 

According to Pyykkö, Finland is interested in the Philippines’ economic development and its vast potential. Apart from this, the country has also proposed cooperation in other areas such as – climate change mitigation, digitalization, smart city development, education, and web-based healthcare services.

“Ambassador Pyykkö said he wants to rekindle the interest of Finnish investors in the Philippines, especially after Finland reopened its embassy in Manila in September last year, primarily to facilitate business ties involving the two countries and strengthen Finland’s consular and immigration services in Manila,” the department said in a statement.

Pyykkö highlighted the Philippines’ positive mid-term outlook, infrastructure development, and corporate tax reforms as strong indicators of the country’s economic promise – encouraging Finnish investors to “take a second look.”

Besides this, the Ambassador also commended the Philippines’ active involvement in Finland’s environmental campaign – the Coalition of Finance Ministers for Climate Action. In particular, its move of banning single-use plastics.

“Ambassador Pyykkö congratulated Secretary Dominguez on supporting the ban on single-use plastics. The ambassador said this would involve action down at the local level, which is what Finland has been doing as well to mitigate the impact of, and adapt to, the climate crisis,” the department shared.

Meanwhile, Dominguez welcomed Finland’s offer of assistance in the aforementioned sectors. He also thanked the country for its willingness to share its knowledge with the Philippines. 

Pyykkö is the first resident Ambassador of Finland to the Philippines after it closed its embassy in the country back in 2012.

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Image credit: DoF’s Official Facebook Page