PH monitoring 90 Chinese investment leads: Marcos

Raffy Cabristante, ABS-CBN News

Posted at Mar 23 2023 04:00 PM

Office of the Press Secretary handout/file
President Ferdinand Marcos Jr. meets with Chinese President Xi Jinping at the Great Hall of the People in Beijing on Jan. 4,2023. Office of the Press Secretary handout/file

MANILA — President Ferdinand Marcos Jr. on Thursday said the Philippines was monitoring 90 active investment leads from Chinese companies following his state visit to China last January.

Citing data from the Board of Investments (BOI), Marcos said the investment leads were from firms engaged in manufacturing, information technology, business process management, and renewable energy.

“May you all take hold of and maximize these prospects as you venture into your next endeavors for the benefit of our people and for our communities,” he said in his keynote speech during the 33rd Biennial Convention of the Federation of the Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCCII) in Pasay City.

He also thanked the FFCCCII for the role it played during his visit to China, and assured Filipino-Chinese businessmen that their concerns were already being addressed by his administration.

Marcos also reported to them that his visit to China saw the signing of several agreements to improve "bilateral trade and investment cooperation" between the Philippines and China.

Among these deals, he said, were a memorandum of understanding on electronic commerce cooperation, as well as durian export protocols signed between the Department of Agriculture and China's General Administration of Customs.

Marcos also called on them to "take hold of and maximize" these business prospects.

"It’s a joy to know that your theme coincides with my call for unity which is in my view an essential part of our journey towards development and prosperity that will be enjoyed by all," the President also said.

The FFCCCII is a non-stock, non-profit corporation composed of 170 member chambers and trade associations across the country, actively engaged in trading, manufacturing, service industry and other economic activities, Malacañang said.

Fresh from his visit last January, Marcos had earlier reported that his 48-hour state visit to China had resulted to investment pledges amounting to $22 billion.

These investments were from new and existing Chinese-owned businesses in the Philippines, Marcos said, noting that the pledges were expected to generate thousands of jobs for Filipinos.


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