Can you imagine the Philippines invested $700 million in Scotland on wine? According to Wilson, the Philippines came into the picture when Andrew Tan-led Emperador Inc. acquired Scottish distiller Whyte & Mackay for $700 million earlier this year. This acquisition was absolutely massive, considering that there were no previous investments to talk of from the Philippines, while Scotland’s exports to the Philippines were marginal. That was very exciting because that was the third biggest investment from the Philippines and sixth largest from Asia into the United Kingdom. This is very significant. If you asked me a year ago if there were any major investments from the Philippines to Scotland in one of our largest brands, I would be very surprised. But now, looking at the way those conglomerates from the Philippines operate has widened our interests, Wilson said. I would’ve thought of it as a trade story originally, but I think it’s very interesting to see opportunities in investments. Scotland is a small nation, so we need to focus on the things we’re really good at. We see potential collaboration (with local companies) on oil and gas, renewable energy, Scottish technology and engineering, among others, she explained. Such collaboration on energy, services, technology, and even in the education, and food and drinks sectors, is expected to help the Philippines further grow as an economy and overcome the challenges that come with this growth. And this is why, Wilson explained, Scottish Enterprise was in the country: To scout for, understand further, and investigate prospective business opportunities that could jack up Scotland’s share in the exports of the United Kingdom to the Philippines to about 9 to 10 percent, and boost investments by local conglomerates to her country to $1 billion within a decade. Read more: business.inquirer.net/184123/ph-appears-on-scottish-companies-radar#ixzz3N9AMY7F6 Follow us: inquirerdotnet on Facebook
Posted on: Sun, 28 Dec 2014 00:23:00 +0000