German company Bayer announced its ongoing expansion in the Philippines.
Trade Secretary Alfredo Pascual had two significant meetings on July 4, 2023 as part of the German leg of the Europe Investment Roadshow co-organized by the Board of Investments and the Philippine Trade and Investment Center in Berlin.
He met with Bayer deputy head region for the Asia Pacific and Latin America Bjoern Leschny and senior manager of global governmental affairs Britta Jacob.
The Bayer executives updated Pascual on its ongoing expansion in the Philippines, particularly its Global Business Services/Shared Service Center operations in Taguig City.
The expansion includes a P750-million investment of Bayer in the Philippines, including the integration of new value-added services such as human resources, strategy and value realization, as-a-service and source-to-pay, confirming Bayer Philippines’ status as a hub within the group’s in-house global business services network.
The investment also represented Bayer’s commitment and strong presence in the Philippines, as it celebrated its 60th year in the country in 2022.
Pascual also lauded the company’s efforts in contributing to the development of the Philippines’ business process outsourcing sector and expressed optimism about the potential benefits of the expansion for both Bayer and the country.
Bayer’s investment demonstrates the country’s potential as a strategic hub for global business operations and reinforces the government’s commitment to attracting foreign investment.
Pascual invited Bayer’s attention to the country’s pharmacovigilance services, one of the globally recognized strengths successfully tapped by US pharmaceuticals.
Bayer Philippines also has ongoing pilot sustainability programs such as the Bayer Kubo, which combines crop science, consumer health and pharmaceutical divisions, implementing health and agricultural programs for smallholder farmers in Bayer Learning Centers located in Pangasinan and Quezon province.
Bayer also has an active partnership with the Philippine Science High School supporting their existing Science Immersion Program where selected students get hands-on experience on research and development basics—from the lab to the field in two R&D sites in Laguna and General Santos City.
Pascual also met with Hans-Christoph Brumberg, Yannic Nerke and Hamid Babamohammadi of wpd AG on the same day. The group confirmed their investment in off-shore wind power projects in the Philippines, with a combined rated capacity of 1,300 megawatts.
These investments, soon to be established in Cavite/ Batangas and Negros Occidental/ Guimaras provinces, are valued at P400 billion or $7.2 billion.
Wpd plans and operates wind projects and solar projects in Germany, Europe, Asia and the American continent. They are also planning to register with the BOI onshore wind and solar photo-voltaic power projects in Aklan, Ilocos Norte, Ilocos Sur, Abra, Antique and Bulacan, with a total planned capacity of 565.6 megawatts and a planned total investment worth at least P55 billion or $1 billion.