Filtered By: Money
Money

BOI courts Chinese business to invest in RP


The Board of Investments (BOI) urged Chinese businessmen to invest in mining and business process outsourcing as priority sectors in the Philippines. “We [encouraged] them to take a look at the bright prospects" of these two sectors, said Cristino Panlilio, BOI managing head, after his weeklong visit to Shanghai, Wuxi, and Hangzhou in China. Panlilio said he invited Chinese companies to set up call centers in the Philippines, boasting the country’s human capital resources. Filipino investment bankers and financial experts would be sent to China to determine how capable the Philippines is in serving the business requirements in China, he added. Panlilio said in his meeting with vice chair Wang Xin Pei of the Shanghai Municipal Commission of Commerce, that China recognized the potential of mining in the Philippines. At present, China has growing needs for minerals in light of its industrialization that has propelled the country to become the world’s second largest economy. Panlilio said he also pitched during his visit to China “other [Philippine] business opportunities" as in housing, tourism, manufacturing, and agriculture. He asked Chinese government officials to actively take part in the public-private partnership program of the Aquino administration. Chinese businessmen would likely visit the Philippines early next year, Panlilio said. “On the heels of the strong investor confidence under the new administration, the Philippines is more than ready to welcome new investors as efforts continue to further streamline the business transaction resulting in a more investor-friendly atmosphere," Panlilio said. The Philippines is positioning itself as an attractive site for multinational firms since it is in a “strategic location" with the Filipino workforce able to adapt to innovations, he added. —JE/VS, GMANews.TV

LOADING CONTENT