Many Australian companies expressed interest in investing in the Philippines this year, according to newly appointed Australian Ambassador to the Philippines Amanda Gorely.
Gorely said these investments are in the business process outsourcing (BPO) industry, energy, telecommunication, manufacturing, and mining.
Australian companies in the Philippines are currently employing over 30,000 Filipinos. This figure is expected to increase by at least 10 percent this year.
Australian Trade Commission Senior Trade Commissioner Anthony Weymouth, however, expressed disappointment over the challenges experienced by Australian companies in the mining sector.
These include protests, review of the mining act, and review of the fiscal regime.
He said he hopes the contracts signed will be honored. Despite this, Australia remains interested in entering into public-private partnership (PPP) projects.
Weymouth said Australian companies are particularly interested in building the Light Rail Transit Line 6 (LRT-6), prisons, and public hospitals.