Chinese, Philippine firms seek opportunities to boost cooperation
25 Nov 2019


The Philippines-China Investment and Trade Forum kicked off on Monday to help Chinese firms seek more investment opportunities in the Philippines.


The forum, jointly organized by the Chinese Council for Promoting South-South Cooperation(CPSSC) and SRCIC's member Philippine Chamber of Commerce and Industry (PCCI), aimed to implement the major consensus reached by leaders of both sides and to promote bilateral investment, particularly Chinese investment in the Philippines with the framework of south-south cooperation.


The CPSSC invited some 60 senior managers and owners from 25 Chinese enterprises to feature in the forum while over 20 local firms also made their attendance to it.


The one-day forum had in-depth talks on investment and trade cooperation concerning infrastructure, capacity cooperation, industrial park construction, small-and-medium-sized enterprises development, electronic devices manufacturing, and e-commerce areas, among others.


Chairman of the CPSSC Lyu Xinhua said that the forum has built up a platform for communication and exchanges, provided a good opportunity for investment.


Enterprises of both sides should create a community of mutual interest to realize win-win cooperation and common development, he added.


Speaking at the forum, Charge d'Affaires of the Chinese embassy in the Philippines Tan Qingsheng said more and more Chinese companies are investing in various sectors in the Philippines.


"At present, there are more than 40 big Chinese enterprises investing in the Philippines, directly employing close to 20,000 employees, indirectly generating 26,000 job opportunities," he said.


Tan said that the forum is a great opportunity for companies of both countries to know each other and explore the possibilities for future cooperation.


A one-on-one business matching session was also held during the forum to help firms from the two countries seek more chances to understand, prompting cooperations in investment areas.


Su Haolin, the president of China's Nanjing Sky Valley Water Technology Co. Ltd., told Xinhua in an interview that the CPSSC provided Chinese firms a good platform to learn the Philippine investment environment and market better.


"I learn that the Philippines has very huge potential in the cooperation of the water technology section and I am confident that we can make more commercial partners at the forum," he said.


CPSSC, established in 2014, is a national non-profit organization dedicated to promoting mutually beneficial cooperation between China and developing countries in areas such as politics, economy, culture, and education.


Source: Belt and Road Portal