The trade department has invited Norwegian businessmen to increase investments in the Philippines. “We [Department of Trade and Industry officials] met with Norwegian government officials that manage the fund and we encouraged them into investing more here and increase their exposure in the Philippines,” said Trade Secretary Gregory L. Domingo in a chance interview with reporters on June 18.
Domingo noted that Norway possesses the largest sovereign wealth fund, the Norwegian Government Pension Fund-Global (SPU), and the Philippines stands to gain from more investments as the Nordic country already has substantial investments in blue-chip companies, through the said fund.
Norway, the world’s second largest exporter of gas and seventh largest exporter of oil, puts its surplus wealth from petroleum income into the the global fund.
Read more: Business Mirror