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CCCMC and the Philippine Embassy in China hold the video conference on "Partner Philippines: Opportunities for Growing Business"

Source:CCCMC Published:2020-08-25 Editor:


With a view to promoting the cooperation and development of trade and investment between Chinese enterprises and the Philippines, on August 20, 2020, CCCMC together with the Philippine Embassy in China, Philippine Board of Investments (BOI) and the Economic and Commercial Office of the Chinese Embassy in the Philippines, jointly organized a video Conference on "Partner Philippines: Opportunities for Growing Business". Liu Danyang, Vice Chairman of CCCMC, Jose Santiago L. STA. Romana, Ambassador of the Philippine Embassy in China, Counselor Glenn Peñaranda, Ms. Angelica M. Cayas, Governor of BOI, and Jiang Jianjun, Minister Counselor of the Economic and Commercial Office of the Chinese Embassy in the Philippines, attended the meeting and made keynote speeches. The meeting was presided over by CCCMC Liaison Dept. Director Yin Liyong and CCCMC Development Dept. Deputy Director Li Tiantian. More than 200 representatives from the Ministry of Trade and Industry of the Philippines, the Philippine Trade and Investment Center, Xiamen ITG Group Corp., Ltd. (ITG), and New Hope Liuhe Co., Ltd. (the Philippines) and some other companies attended the meeting.

 

Vice Chairman Liu Danyang delivered a welcome speech, introducing the basic situation of CCCMC, especially CCCMC’s all-out efforts to cope with the impact of the novel coronavirus pandemic. CCCMC fully serves the industry and enterprises: building an integrated platform for cloud services, issuing "proof of the facts of force majeure", timely investigating the current situation of the industry, making suggestions to the government, actively carrying out international trade friction response, and providing enterprises with information on foreign supply, procurement and investment of commodities, as well as promoting projects, organizing exhibitions, conferences, trade docking and other activities, so as to help enterprises "go out" and expand foreign trade and investment development. Liu Danyang pointed out Philippines is an important ASEAN country and an important trade partner of China in the Belt and Road Initiative with broad prospects for development. CCCMC will give further play to the advantages of international liaison, deepen bilateral cooperation, establish a regular exchange and communication mechanism, encourage and assist enterprises of the two countries in carrying out various forms of cooperation, and promote the development of Sino-Philippine economic and trade cooperation.

 

Ambassador Jose Santiago Romana said, with the labor advantages and the support of various preferential policies, the Philippine economy will have a strong recovery after the outbreak of the pandemic. The Philippine government has developed more special economic zones, information technology parks and industrial parks, and plans to carry out "Grand and Special" infrastructure construction plan, including the construction of roads, railways, dams and bridges. As China is the Philippines’ largest trading partner and the second largest investor, we look forward to and welcome Chinese enterprises to join the development and construction of the Philippines.

 

Minister Counselor Jiang Jianjun pointed out that China-Philippines relations has gone through three stages: turning round, consolidating and upgrading, showing a positive trend of overall improvement. Under the guidance of high-level officials, China and the Philippines have strengthened the synergy between the Belt and Road Initiative and the "Grand and Special" infrastructure construction plan. Bilateral economic and trade cooperation has flourished and become one of the three pillars of bilateral relations. In the past five years, China has become the Philippines' largest trading partner, the largest source of import, the third largest export destination, the second largest source of tourists, and the fifth largest source of net equity capital allocation. From 2012 to 2018, the Philippine economy grew at more than 6% for seven consecutive years, making it one of the most dynamic economies in the world. In addition, it has the advantages of social and economic stability, human resources advantages and good international trade environment, so there is a broad space for future economic and trade cooperation between China and the Philippines.

 

Governor Angelica M. Cayas explained in detail the business opportunities and preferential trade and investment policies of key industries in the Philippines, involving the manufacturing industry, metals, construction and infrastructure, minerals and chemicals industry, pharmaceutical industry and other industry. The advantages of the Philippines as an investment destination lie in its free trade agreements, labor advantages and the general system of preferences (GSP) treatment enjoyed by the Philippines in many major markets. The Philippine economy has a strong foundation and provides various preferential conditions for investors. It is believed that the Philippine economy will usher in a V-shaped recovery in 2021.

 

Sun Lihui, Director of the Development Dept. of CCCMC, made a keynote speech on "Risks, Challenges and Coping Practices Faced by Enterprises in Overseas Investment and Operation". He systematically introduced the development trend of international responsible business conduct rules in recent years and its significant impact on the internationalization process of Chinese enterprises. He also analyzed the existing problems and shortcomings of "going global" of Chinese enterprises, and elaborated on the key issues of corporate social responsibility and the key points of supply chain compliance management to help "going out" enterprises solve the pain points and difficulties in social responsibility issues.

 

Mr. Han Yun, manager of Xiamen ITG Group Corp., Ltd., and Zhao Guodong, General Manager of Philippines of New Hope Liuhe Co., Ltd., respectively shared their experience as representatives of importers & exporters and investors in the Philippines, and introduced their advantages and experience in the import & export trade environment of the Philippines, the establishment of companies in the Philippines, and investment in the Philippines.

 

In the interactive communication part, enterprises spoke enthusiastically and raised questions on the construction industry, economic recovery and stimulation, free trade agreement, investment policies in the Philippines, preferential policies, Made in China, trade opportunities and entry policies to the Philippines. The guests carefully and patiently answered the questions raised by the enterprises.

 

Counsellor Glenn Peñaranda delivered a closing speech, saying that he would spare no effort to assist the trade and investment enterprises with the Philippines from all aspects. Zhou Yue of the Economic and Commercial Office of the Chinese Embassy in the Philippines, Zhao Xiaoran of the Philippine Embassy in China, and Wang Dan of CCCMC Liaison Dept. also attended the meeting.