PH del met German investor at Asia Pacific Conference in Hong Kong, assures gov’t support as company sets up shop in PH
Berlin/Hong Kong–The Philippine delegation to the Asia Pacific Conference of German Business (APK) met with the officials of German firm KnaufGips KG, a leading manufacturer of building systems and equipment, and German Investment Development Corporation (Deutsche Investitions- und Entwicklungsgesselschaft, or DEG) at the sidelines of conference to discuss the current status of KnaufGips’ gypsum board panel system manufacturing facility in the Philippines.
Led by Trade Undersecretary for Industry Promotion Nora Terrado, Board of Investments (BOI) Director Angelica Cayas, and Philippine Trade and Investment Center-Berlin (PTIC-Berlin) Commercial Counselor Althea Antonio, the Philippine delegation assured KnaufGips KG chief executive officer Manfred Grunke and DEG Director Corporates Klaus Helsper that the government will continue to support the company in the implementation of its investment project in the Philippines set to be completed and operational by 2018.
Since 2013, BOI and PTIC Berlin have been assisting KnaufGips in several due diligence visits in the country until the establishment of the company’s business operations in July 2016. Knauf Gypsum Philippines, Incorporated, a partnership between KnaufGips KG and DEG, was registered with the BOI on a pioneer status for the manufacture of gypsum boards in its facility in Batangas, with an estimated investments of Php1.955 billion and expected to generate 100 direct jobs.
The APK is a key signature event in Asia, where top business and government leaders from Germany and Asia gather every two years to discuss business, to network and strengthen personal and economic ties with the region. This year’s conference, held in Hong Kong on 3-5 November 2016, was attended by more than 1,000 delegates. (END)