NextGen Day

As the Philippines participates in the China International Fair for Investments and Trade (CIFIT) 2022, the Department of Trade and Industry (DTI) hopes to lure more Chinese companies to invest and conduct business in the Philippines.

The Board of Investments (BOI) brought its “Make It Happen in the Philippines” campaign at this year’s CIFIT in Xiamen, China from September 8 to 11. This was done through its investment promotion agency.

Five important investment industries are highlighted in the “Make It Happen in the Philippines” campaign: electronics, automotive, aircraft, copper, information technology, and business process management.

According to BOI, it aims to attract Chinese investors, in particular to high-tech manufacturing sectors, including services for electronics manufacture, medical devices, electric vehicles, battery production, green metals, hyperscale computing, innovation and start-ups, and renewable energy.

“The nation’s involvement in CIFIT strengthens its position as a top destination for Chinese businesses looking to invest. Additionally, it shows that the government views China as a key market, the BOI said in a statement on Friday.

The Philippines has been the guest of honor for the past two years in recognition of the lengthy and rich connection between the Philippines and China.

The nation’s participation in CIFIT last year received project ideas valued at more than PHP506 billion, according to BOI.

DTI Secretary Alfredo Pascual spoke at the 21st World Business Leaders Round Table Meeting in Xiamen prior to the start of CIFIT 2022.

In line with the objectives of the Regional Comprehensive Economic Partnership, Pascual emphasized the government’s economic reforms and priorities for enhancing trade and investment connections with China and other nations in the area.

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