China visit leads to 90 active investment leads
President Ferdinand R. Marcos Jr. said Thursday the Board of Investments (BOI) is monitoring about 90 investment leads from Chinese companies in various sectors, including manufacturing, information technology, business process management, and renewable energy after his state visit to China in January, according to a report by Philippine News Agency.
In his speech during the 33rd Biennial Convention of the Federation of the Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCCII) in Pasay City, Marcos told the organization's officials and members to make the most of these potential investments.
“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.
He also assured Chinese-Filipino businessmen that the issues they raised last September during a courtesy call with him are already being addressed by his administration as a form of appreciation for the FFCCCII’s participation in the recent presidential visit to China.
Marcos said his administration has been exerting efforts to create an enabling environment for businesses and make the Philippines an investment haven.
He pointed out that the Implementing Rules and Regulations of the Renewable Energy Act was amended by removing foreign ownership restrictions for certain Renewable Energy (RE) generation projects in the Philippines to attract more investments in the energy sector.
The President said his administration also issued an Executive Order constituting green lanes for strategic investments to further streamline the business permit and licensing processes.
“In return, I only ask that you continue to do what you do best: to remain industrious, innovative, and compassionate in improving the lives of our people through your business initiatives,” he said.
He recognized the FFCCCII as an effective change catalyst through its various initiatives to reach out to as many communities as possible, particularly its Operation: Barrio Schools and Operation: Bakuna.
“We deeply appreciate your assistance in conducting medical missions and typhoon and earthquake relief operations. As you conduct your biennial convention today, may you reaffirm your commitment to support the government in accelerating the country’s development efforts,” he said.
The FFCCCII is a non-stock, non-profit corporation composed of 170 member chambers and trade associations across the country, which are actively engaged in trading, manufacturing, service industry, and other economic activities.
The Federation’s four-day convention, attended by about 820 delegates, including the country’s top Filipino-Chinese business leaders, has for its theme “Unity for Development and Prosperity.”
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