JINAN, China—The Philippine government has pitched for more Chinese investments in the country, citing its advantage for conducting business, including economic growth and reforms as well as rich talent and demographic pool.
Manila's trade representative in Beijing, Glenn Penaranda, led a delegation of Filipino and Filipino-Chinese businessmen on a three-day business mission that started on Jan. 16 here in a bid to expand business engagements between the two nations.
In Dezhou, a city in Shandong province, Penaranda presented before hundreds of businessmen and other stakeholders the Philippines' advantage in terms of starting and conducting business and investments.
During a business convention, Penaranda particularly cited the Philippines' fast growing economy, rich talent pool and demographic sweet spot, competitive salary and steady wage increase, labor attrition, strategic access to key markets as well as the free trade agreements (FTAs) that are in the works, infrastructure development, availability of suitable locations, the Strategic Trade Management Act, the intellectual property protection and the game changing economic reforms.
He said the country's economic reforms included competitive and relevant incentives through the CREATE Act, liberal foreign equity policies, among others.
He also assured Chinese businessmen of assistance from the Philippine government should they express interest in starting their investments.
"You will have people from the boarding investments to take care of you. If you need any information, any advice...we'd be very happy to provide information, advice and even help you with your visa to make sure that you can travel to the Philippines at a time...the country is really keen to support anyone doing business, especially investors," he said.
On the other hand, Association for Philippines-China Understanding (APCU) chairman Raul Lambino, who also spoke before hundreds of Chinese businessmen, cited strategic areas of cooperation for both countries.
These are cross-border e-commerce, renewable energy, agricultural innovation, and people-to-people exchanges.
“By establishing platforms like the Philippines-Dezhou Cross-Border E-Commerce Platform Alliance, we can empower businesses to access new markets, enhance product visibility, and leverage digital payment systems for seamless transactions,” he said.
And as the Philippines works towards its 50 percent renewable energy goal by 2040, partnerships with Dezhou’s renewable energy sector can accelerate this transition, he also said.
“Our success hinges on the spirit of collaboration and a shared vision for the future. As we build bridges between Shandong and Southeast Asia, let us remember the broader purpose of our efforts - improving livelihoods, fostering understanding, and contributing to the global economy’s stability and growth,” Lambino said.
Penaranda explained that bolstering the Philippines' ties with China will create more jobs for Filipinos.
"Behind trade arrangements are jobs [that are] supported," he told Manila Bulletin.
"With more trade with China, we deepen engagements for more collaboration, including in possible investments that will create even more jobs," Penaranda added.
Delegation tour
The delegation toured about a dozen big enterprises in Shandong province, China's third largest province in terms of economy, including companies that manufacture or produce coil, textile, medicine, agriculture, wine and information technology.
The companies flexed their state-of-the-art technologies and machines that operate and manufacture round-the-clock although they are unmanned.
Agricultural products, such as celery, green long pepper capsicum, strawberries, that are either as big as the palm or the forearm, also surprised the delegates.
Aside from a business mission, the delegation also visited the tomb of Sulu Sultan Paduka Pahala, the first recorded Filipino official who made a diplomatic mission in 1417 to imperial China and died there.
The delegation was composed of Zhou Ting and Jaquelyn Castro of SOMAGO International Holdings Company, Raul and Marilyn Lambino of APCU, Wilson Flores of the Federation of Philippines and Chinese Chambers of Commerce, Gerard Galang and Ann Rose Galang of Uni Wwin 28 Forwarder Company and Edward Lim and Leepin Ko of JME Supreme International Inc.