The China International Fair for Investment and Trade (CIFIT) 2021 opens on 8 September 2021 at the Xiamen International Conference & Exhibition Center in Xiamen, China.
CIFIT is China’s only international investment promotion event aimed at facilitating bilateral investment and the largest global investment event approved by the Global Association of the Exhibition Industry. With the theme “Introducing FDI” and “Going Global, ”CIFIT 2021 focuses on domestic and international opportunities for trade and investment promotion and cooperation. It will run from 8-10 September 2021.
The on-site Philippine delegation to CIFIT 2021 is led by Philippine Ambassador to China Jose Santiago Sta. Romana and China-based officials from the Department of Foreign Affairs, Department of Trade and Industry (DTI), Department of Agriculture (DA), and Department of Tourism (DOT). They will be supported by an online delegation in Manila headlined by DTI Secretary Ramon M. Lopez and DTI Undersecretary Ceferino S. Rodolfo.
This year, the Philippine participation in CIFIT 2021 is anchored on the Make It Happen in the Philippines investment promotion campaign and focuses on eight key sectors: Manufacturing; IT-BPM; Hyperscalers; Innovation and Digital Technologies; Agri-business; Real Estate Development; Renewable Energy; and, Infrastructure. The campaign is based on the Make It Happen attitude of the hardworking and adaptive Filipino workforce that makes the country an attractive investment destination.
“China is now the most important economic partner of the Philippines. In 2020, China ranked as the PH’s number one trading partner (out of 224). Total Bilateral Trade amounted to about RMB271-B,” said Senior Trade Representative JP Iñigo of DTI Guangzhou. “In terms of investments, China ranks 2nd or about RMB2.048-B. Unfortunately, Chinese Investment still remain very small considering from 2005 to 2019, Chinese companies invested RMB39-T, 961-B in North America and Europe, amounting to just over half (50.9%) of all Chinese FDI outflows during this period. Thus, we hope that China will invest more in the Philippines in the coming years.”
Ten exhibitors will be participating in CIFIT 2021 including Zamboanga City Special Economic Zone Authority (ZCSEZA); Bases Conversion and Development Authority (BCDA); Subic Bay Metropolitan Authority (SBMA); Cagayan Economic Zone Authority (CEZA); Clark Development Corporation (CDC); Mt. Samat Flagship Tourism Enterprise Zone (MSFTEZ); and Tourism Infrastructure and Enterprise Zone Authority (TIEZA).
In addition to exhibitors from the public and private sectors, the Philippines will be conducting a series of fora during CIFIT 2021 to explore a broader range of partnership opportunities with China. The Philippine Investment Forum will be held on 8 September 202 to discuss general investment policy and investment opportunities in agriculture, tourism, technology, hyperscalers, and renewable energy. A second online forum organized by the Philippine Economic Zone Authority and 86 Links will take place on September 09 to focus on industrial parks and centers. Lastly, a third offline-online forum will be held on 9 September 2021 to explore construction and infrastructure opportunities in the Philippines that may be of interest to Chinese investors.
“If you choose to invest in the Philippines, you will be amongst friends and relatives, that your Investments are safe, your Businesses will thrive and there will be lots of Investment opportunities where you can earn profits. For those who have come to the Philippines, you know this to be true,” STR Iñigo said to an audience of Chinese businessmen and policymakers.
The Philippines is working with its strategic partner, Bank of China, in bringing awareness about the investment and trade projects in the Philippines to the Chinese market. Bank of China has a full commercial banking license in the Philippines and has been in operations in the country since 2002. The Manila Branch’s mission is to be the bridge between Chinese and Philippine trade and investments through corporate banking, personal banking, and financial markets services while facilitating Chinese investments in key sectors of the fast-growing Philippine economy.
Learn more about the Philippine participation to CIFIT 2021 by visiting our microsite. You may also get in touch with the Philippine Trade and Investment Centers in China or the Board of Investments in the Philippines to learn more about CIFIT 2021. ♦
Date of Release: 8 September 2021
