Stockholm the capital of Sweden is set to send in its largest delegation of businessmen raring to do business in the Philippines.
And there’s more: Sweden is also set to reopen its embassy in Manila after shutting it down in 2008 because of budget cuts, recognizing the importance of trade with the Philippines which has become one of the region’s fastest-growing economies.
With the success of Swedish brands such as clothing retailer H&M in the Philippine mass market, others like home accessories and furniture chain Ikea and Volvo Buses are not far behind, said Harald Fries, Sweden’s ambassador-designate, in a roundtable discussion.
No Swedish company has become hesitant to do business in the Philippines despite the controversy over the President’s foreign policy stance, he said.
“Actually, there are more and more companies signing up,” Fries said.
One of the Swedish businesses about to move in is the defense contractor Saab Group, which is scheduled to inaugurate its office at Bonifacio Global City in Taguig City on November 9.