Philippines requires manpower for textiles industry

04 Oct '07

4 min read

While the Philippines economy has gathered momentum towards stability, "the Indian economy has already reached the top in the recent years", said H E Gloria Macapagal-Arroyo, President, Republic of Philippines at the interaction organized by Confederation of Indian Industry (CII), in her keynote address.

The Indian middle-class now comprises of half a million people and India is becoming an undeniable force, and as is with China, are growing to work alongside Japan.

Terming India as a political and economic giant, she said the Look-East policy should bring about more co-operations between the two countries.

On the economic climate in the Philippines , the President opined that the current growth was unthinkable six years ago. On the passing of the bill for affordable medicine by the Philippines Senate, she said that medicines are imported from India to cut down the prices.

Now, long-due investments are taken up in the spheres of health and training. The Filipino government encourages private drug-store owners and local governments to do business with India. Also, Indian pharma companies are well encouraged to set up base in Philippines.

"One of the other areas of major investments could be in the entertainment sector and that Philippines has a lot to offer to Bollywood: rainforests and white-sand shores form a perfect backdrop for film shoots", the President said.

Also, post-production facilities, studios and other technical aids are some of the sops for Bollywood. "We are trying to cut the red-tape for Indian film-makers", she remarked. On the changes in the visa policies for Indians, the President said that Indian visitors are not 'restricted nationals' in the Philippines any more.

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