Swedish companies to participate in their biggest delegation yet in PH

A Swedish defense contractor called Saab Group is set to open an office in Taguig City on Wednesday, where its representatives will be part of a business delegation to explore opportunities in the Philippines.

SAAB GROUP. Swedish defense contractor is set to open an office in Taguig City on Wednesday. Image from SwedishChamber.in

The business delegation is to be led by Sweden’s Minister of Enterprise and Innovation Mikael Damberg, who will arrive to “coincide with the opening of the country’s new embassy in Manila,” as per Asia Times’ report.

According to Asia Times, Saab Group is reportedly securing a deal to sell JAS 39 Gripen fighter aircraft to the Philippine Air Force. Also trade promoter Business Sweden has also been reported that they may open a new office in the country.

According to the Executive Director of the Nordic Chamber of Commerce in Manila Joona Selin, “There has been a lot of headwind lately, but from a business and economic perspective, the Philippine story hasn’t changed. All positive fundamentals in the economy are in place.”

“The country’s GDP growth accelerated to seven percent in the second quarter from 6.8 percent in the first, making it one of the region’s fastest growing economies,” he added.

According to incoming Ambassador Harald Fries, November’s trade delegation will be Sweden’s biggest delegation to the Philippines. Companies to participate include Atlas Copco, Ericsson, Scania, Volvo Bus, SEB, and Swedish Match.

Source: Asian Times, PhilStar