Manila: A Swedish trade official said Friday the Philippines could look into establishing further 'advancements' on taxation, customs, and business permitting, to make the economy 'even more attractive' for Nordic businesses.
According to Philippines News Agency, Sweden's Trade Commissioner to the Philippines, Johan Lennefalk, in an interview, said Swedish businessmen are firm on further expanding their reach. He remarked that the Philippines is a market of increasing interest from Swedish businesses looking for new growth frontiers, supply chain diversification, and institutional investment opportunities.
During the inaugural Nordic Day celebration in the country on March 24, officials of the five Nordic states-Sweden, Finland, Denmark, Iceland, and Norway-highlighted the European grouping's alignment with the Marcos administration's push for economic transformation. Norway's Ambassador to the Philippines, Christian Halaas Lyster, emphasized that many Nordic businesses are not only in the Philippines to trade but also to invest in new jobs and opportunities for both Filipinos and Nordics in advanced high technology sectors. He noted the steady growth of Nordic investments in the Philippines as reforms improve the business environment.
Sweden Ambassador Anna Ferry asserted that Nordic states can further support the Philippines as it digitalizes its public sector, improves transportation, and positions itself as a leader in energy transition. She suggested that continued economic reforms and an improved business climate in the Philippines are essential to unlocking its full potential for economic growth and attracting further Nordic investments.
Finland Ambassador Saija Nurminen and Denmark Ambassador Franz-Michael Mellbin, who were present at the Nordic Day, highlighted the common values that underpin Nordic-Philippines cooperation. Mellbin stressed that the Nordic family is united by trust in institutions and the belief that inclusive societies create stronger economies. He affirmed that despite the geographical distance, the partnership with the Philippines is based on conviction, respect for human dignity, and accountable governance.
The four embassies stated that the inaugural Nordic Day reception serves as a new platform for showcasing Nordic-Philippine cooperation as a shared investment in the future. Nordic Day celebrates the cooperation between Denmark, Finland, Iceland, Norway, Sweden, the Faroe Islands, Greenland, and ‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦¡¬€š¬…¡¬‚¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬¦¡¬¦land, which was formalized through the Helsinki Treaty in 1962. This cooperation has evolved into one of the world's most successful and forward-looking regional partnerships, creating the Nordic Council of Ministers, the official body for intergovernmental cooperation in the Nordic region.
