Hong Kong –The Department of Trade and Industry (DTI) through the Philippine Trade and Investment Center – Hong Kong (PTIC-HK) and the Philippine Board of Investments (BOI), partnered with the Philippine Consulate General in Hong Kong (PCGHK) to promote investment opportunities in the Philippines during the 8th Belt and Road Summit (BRS) last 13 to 14 September 2023 at the Hong Kong Convention and Exhibition Centre (HKCEC).

The two-day summit with the theme “Prospering on a Decade of Collaboration” was comprised of business-to-business meetings, forums, and project investment sessions wherein the Philippines discussed the country’s urban development, innovation, and transportation infrastructure from participating Local Government Units (LGUs) and Investment Promotion Agencies (IPAs).

Vice Consul (Commercial) and Commercial Attaché of the PTIC-HK, Atty. Roberto B. Mabalot, Jr., highlighted the strong economic growth of the Philippines and encouraged Chinese investors to seize the opportunities presented by the country’s upward economic trajectory and in his presentation on the Philippine business landscape and opportunities.

“The Philippines is one of the fastest-growing economies in the ASEAN with a GDP growth rate of 7.6% for the year 2022 and ranking first in the region at 6.4% for the first quarter of 2023,” said Mabalot.

“Chinese investors can take advantage of the investment opportunities ensured with full government support through fiscal and non-fiscal incentives that facilitate ease of doing business. Our established reforms are here to stay to provide you with a business-friendly environment and guaranteed business security,” he added.

Dr. Frances Mae Llamas, Local Economic Development and Investment Promotions Officer of Bacolod City shared with the investors the Panay River Basin Integrated Development Project, while Ms. Karen G. Magno, Manager, Business and Investment Department for Manufacturing and Maritime of the Subic Bay Metropolitan Authority (SBMA), discussed the latest developments of infrastructure and transportation in the Subic Special and Economic and Free Zone.

Meanwhile, the Chief Executive (CE) of Hong Kong SAR, Mr. John Lee, said that Hong Kong is expanding its cooperation with Belt and Road partners in terms of trade and investment, innovation and technology, and infrastructure development. In fact, over 150 countries and 30 international organizations already signed agreements with China in a collective pursuit of the Belt and Road initiative.

The BRS was jointly organized by the Hong Kong Trade Development Council (HKTDC) and the Government of Hong Kong Special Administrative Region (SAR) which gathered a record-breaking number of 6,000 representatives from the Belt and Road related territories including government officials and business leaders.

For more information about the BRS, please feel free to visit their official website at: https://www.beltandroadsummit.com or contact the PTIC-HK at hongkong@dti.gov.ph. You may also follow the official Facebook page of the PTIC-HK at DTI Hong Kong. ♦

Date of Release: 22 September 2023