Manila: The Philippines and Sweden are exploring opportunities to deepen cooperation in energy, digitalization, manufacturing, and other strategic sectors to support economic growth and create more quality jobs for Filipinos. This development follows the recent courtesy call by Swedish Ambassador to the Philippines Anna Ferry and a Swedish delegation on Finance Secretary Frederick Go. The meeting, held on Tuesday, aimed at bolstering economic cooperation and increasing Swedish investments in the Philippines.

According to Philippines News Agency, the Department of Finance (DOF) released a statement on Thursday highlighting Secretary Go's emphasis on the importance of attracting investments that generate employment and enhance the nation's economic competitiveness. He stressed the benefits of manufacturing investments owing to their capacity to create numerous jobs for the country's skilled workforce.

Secretary Go expressed the Philippine government's interest in investments in renewable and clean energy, along with digital technologies, particularly in artificial intelligence and cybersecurity. Trade Commissioner of Sweden to the Philippines Johan Lennefalk highlighted Sweden's extensive experience in fossil-free energy technologies. He mentioned ongoing collaborations with the Swedish Energy Agency on various projects, including floating offshore wind and integrated wind and solar solutions.

Additionally, Go welcomed potential partnerships in sectors like healthcare, agriculture, food security, electronics, mineral processing, and services, all of which hold promise for boosting investment growth and employment. Discussions during the meeting touched on expanding areas of cooperation to further strengthen economic ties between Manila and Stockholm.

Ambassador Ferry voiced her hopes for streamlined and expedited grant-processing procedures to attract more investments and ensure the timely implementation of development projects.