NextGen Day

Ilocos Norte is being considered a potential investment location by Chinese businesses.

Ambassador Huang Xilian stated at the Tuesday Ilocos Norte Investment Conference and Chinese Enterprises Philippine Association (CEPA) that he visited the province and noticed the “tremendous potential” it provides.

“I have been to the province of Ilocos Norte before, and I was fascinated with its huge potential,” he added. “It boasts gorgeous landscape, sincere and honest people, and unique resources.

Beijing is prepared to collaborate with the Philippine side to enhance connections, expand collaboration with local governments, and look into investment prospects, he continued.

Huang pointed out that Beijing’s future development and “rejuvenation on all fronts” through modernization are mapped out in the blueprint created by the 20th National Congress of the Communist Party of China.

“We think China’s new development will open up a lot of chances for the world community, including the Philippines, therefore it goes without saying that our practical collaboration will have a bright future,” he said.

With a focus on broad-based job creation and the expansion of digital infrastructure, research, and development, the Marcos administration intends to increase the chances for high-value investments.

The Corporate Recovery and Tax Incentives for Enterprises Act and economic liberalization, according to President Ferdinand R. Marcos Jr., have opened up new opportunities for foreign investment in the Philippines’ formerly protected industries.

Ilocos Norte Governor Matthew Marcos Manotoc, Department of Trade and Industry Undersecretary Blesila Lantayona, and Department of Agriculture Assistant Secretary Kristine Evangelista all attended the CEPA – Ilocos Norte Conference.

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