Department of Trade and Industry (DTI) Secretary Cristina A. Roque recently met with Xavier Bettel, Deputy Prime Minister and Minister for Foreign Affairs and Foreign Trade of Luxembourg, to chart a new course for bilateral economic cooperation. The high-level meeting focused on transitioning the two nations’ relationship into a robust partnership centered on high-growth industries and streamlined trade.
A central theme of the dialogue was the pursuit of “innovation-driven” sectors. Both leaders identified key areas where Luxembourg’s expertise as a global financial and technological hub aligns with the Philippines’ rapidly evolving digital economy.
Key areas of focus include:
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Information and Communications Technology (ICT): Leveraging Luxembourg’s advanced digital infrastructure to support the Philippines’ digital transformation.
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Science and Technology: Facilitating knowledge exchange and joint research initiatives.
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Creative Industries: Exploring co-production and intellectual property opportunities in design, media, and digital arts.
Secretary Roque emphasized the Philippines’ commitment to becoming a premier investment destination in Southeast Asia. The discussions underscored a mutual interest in expanding the footprint of Philippine exports in the European market while inviting Luxembourgish investors to capitalize on the Philippines’ young, tech-savvy workforce.
“Our goal is to create an ecosystem where innovation thrives and businesses feel secure,” Secretary Roque stated. “By aligning our policy frameworks with international standards, we are ensuring the Philippines remains investment-ready and business-friendly for our partners in Luxembourg.”
The meeting also touched upon advancing policy reforms intended to reduce barriers to entry and enhance the ease of doing business. These frameworks are expected to provide a more predictable and transparent environment for foreign direct investment (FDI), particularly for SMEs looking to scale internationally.
This diplomatic engagement marks a significant milestone in the Philippines’ proactive “Make It Happen” investment campaign, reinforcing the country’s position as a strategic gateway to the ASEAN region.
