Chinese businessmen remains upbeat in Philippine investment prospects as a 10-Man Delegation from China was in the country recently to explore investment opportunities.
Led by Ministry of Commerce of People’s Republic of China (MOFCOM) Deputy Director General Li Shao Tong, the business delegation composed of representatives from MOFCOM, Chinese Embassy in the Philippines, and the China International Engineering Consulting Corporation (CIECC) met with members of the Philippine Investments Promotion Plan (PIPP) led by Trade Undersecretary and BOI Managing Head Ceferino Rodolfo at the Board of Investments in Makati City. Joining Undersecretary Rodolfo in the PIPP Panel were representatives from the Bases Conversion and Development Authority (BCDA), First Philippine Industrial Park (FOIP) and Pacific Coast Cities.
During the courtesy call cum investment briefing, the Philippine panel presented the various options for investment locations in Luzon including a proposed Industrial Park that Chinese businessmen may consider locating.
“China remains a strong investments partner of the Philippines, and we are positive that your visit here will open up more business opportunities for the Chinese investors,” said Trade Undersecretary and BOI Managing Head Ceferino Rodolfo.
The courtesy call and investment briefing on BOI commenced the delegation’s seven-day business trip of the MOFCOM in the Philippines included meeting with BOI Officials and site visits in Davao City.
In a related development, the BOI in cooperation with various government agencies and business groups from both countries is conducting today (February 24, 2017) the Philippine-China Investment Forum at the Makati Shangri-La Hotel. The investment forum aims to forge stronger partnership between the two countries on various investments and business initiatives.
Government and private officials from both countries are attending the investment forum. The Philippines panel is led by DTI Secretary Ramon Lopez, supported by Trade Undersecretary and BOI Managing Head Ceferino Rodolfo and representatives from the National Economic and Development Authority, International Chamber of Commerce Philippines, Philippine Silk Road International Chamber of Commerce, Construction Industry Authority of the Philippines, Philippine Exporters Confederation, Inc. and the Philippine Chamber of Commerce Philippines.
The Chinese panel meanwhile is headed by China Embassy to the Philippines Ambassador Zhao Jianhua supported by representatives from China International Contractors Association, Bank of China, China Railway Group Limited and China Communications Construction Company Limited.
China is a vital business partner for the country with significant contributions to the country’s economic growth. In 2015, China placed 14th in the list of top foreign investing countries in the Philippines, pouring in Php1.45 Billion worth of investments, data from the Philippine Statistics Authority showed.