By Katrina Gracia Consebido
Multinational consumer goods company Unilever is set to invest P4.7 billion in the Philippines following a meeting with President Ferdinand R. Marcos Jr. on Wednesday, Dec. 14.
This is in line with Unilever’s plan to automate and digitize its operations in the country.
During a meeting with the President on the sidelines of the Association of Southeast Asian Nations-European Union (ASEAN-EU) Commemorative Summit in Belgium, Unilever officials led by Matt Close, said the investment is proof of their commitment to the country.
Unilever invested heavily in its Philippine factories in the last three years using renewable energy to ensure sustainability.
“I think that we have a good opportunity with some of the policy measures that have been taken from the previous administration and some of the policy changes that we have made at the beginning of this administration,” Marcos said.
The President was also referring to the CREATE Law, which allows corporations to offer competitive incentives, as well as the easing of foreign ownership restrictions.
He also said that public-private partnerships (PPPs), joint ventures, and other tie-ups are key to encouraging investment in the Philippines. -ag
