0
-->

MANILA - As Mexico's largest cement and building materials manufacturer Cemex prepares to list its Philippine subsidiary at the Philippine stock exchange next month, Mexico's ambassador to the Philippines Julio Camarena on Tuesday said more "top Mexican" companies are eyeing investments here.
Camarena didn't name names, but he did describe one interested party. "It is a big telecommunications company that is looking at offers here. But this company is not only telecommunications, it is also into retail, and it is looking at retail options as well," he said.
MANILA - As Mexico's largest cement and building materials manufacturer Cemex prepares to list its Philippine subsidiary at the Philippine stock exchange next month, Mexico's ambassador to the Philippines Julio Camarena on Tuesday said more "top Mexican" companies are eyeing investments here.
Camarena didn't name names, but he did describe one interested party. "It is a big telecommunications company that is looking at offers here. But this company is not only telecommunications, it is also into retail, and it is looking at retail options as well," he said.
Duterte effect
Camarena said many Mexican companies are engaged in negotiations for possible investments in the Philippines, but some of the negotiations have been put on hold ahead of the change in government.
Camarena said this "pause" in talks is not an indication the possible investors are discouraged. Rather he says it is an act of prudence, so the investors can gauge how to do business with the incoming government of President elect Rodrigo Duterte.
He said he has met with the new leader of the Republic thrice before he was elected to lead.
During those three meetings Camarena said they discussed several things, including Duterte's comments in January saying "I will not allow our country to become Asia's Mexico. We will not become a narco-state."
Camarena said he politely requested Duterte to refrain from calling Mexico a narco-state, noting Mexico is actually the 11th strongest economy in terms of purchasing power in the latest World Bank rankings, and ninth most visited country in the world in the World Tourism Organization's rankings.
The Mexican embassy said Mexico welcomes 32 million visitors a year. Camarena said Duterte was very polite and courteous during their meetings.
Camarena has yet to pay a courtesy call to Duterte after his election victory. The ambassador says he is waiting for an official invitation from the Duterte camp.
Source: ABS-CBN News

So what can you say about this one? Let us know your thoughts in the comment section below, and don’t forget to share this blog post to your family and friends online. And also, visit our website more often for more updates.

Share to Facebook Share to Twitter
Loading...

Post a Comment

 
Top