THE Department of Trade and Industry (DTI) said it hopes a project in Mexico, Pampanga will herald more Chinese investments.
Trade Assistant Secretary Glenn G. Peñaranda said during the launch of the Jinjiang Building Materials and Home Furnishing Exhibition Center at Mexico’s Global Construct City in late February that the Philippine Embassy and consulates in China will help other Chinese businesses invest in the Philippines.
He said that the government will assist with visas, business registration, and incentives.
“To the Chinese investors who are already in the country, rest assured that you will always have our continued support as you grow and expand your businesses in the Philippines,” Mr. Peñaranda said.
The exhibition center project aims to promote affordable building and home materials.
The event also included Jinjiang City officials and a business delegation consisting of executives from Chinese companies such as Anta Group, Septwolves Industrial, Fujian Hengan Group, Lilanz, Fujian Panpan Food Group, Jinjiang Huayu Weaving Co., Taiya Investment Group, Fujian Hua Ang Sports Goods Co., Jinjiang Building Materials and Ceramics Industry, Xiamen Airlines, and Jinjiang Food Industry.
The DTI said that Central Luzon is becoming a preferred industrial hub in the Philippines, as reported by real estate management firm Colliers.
“Having 307 hectares of industrial space and existing industrial parks such as Global ASEAN Business Parks 1 and 2, and the San Simon Industrial Park, Central Luzon is vital in attracting job-generating manufacturing investment,” the DTI said.
In 2022, Philippine exports to China hit $10.97 billion while imports from China amounted to $28.2 billion, according to the Philippine Statistics Authority. — Revin Mikhael D. Ochave