A Philippine trade delegation to China, led by the Philippine Economic Zone Authority (PEZA), said it secured at least P5 billion in committed investment leads.
PEZA director-general Tereso Panga expressed confidence that the mission would further strengthen Chinese investors’ interest in the Philippines.
The secured commitments include expansion projects from existing companies such as C&U, Bocheng, Mass Power, Boamax, Huading and Tide Solar.
“As for the new Chinese foreign direct investment leads that we have generated from the investment fora in Shanghai and Dongguan, we have tooling company GNK [tooling], mechanical PC keyboard manufacturer Binsen Herr, Helioway which is motor components company, Huayu Precision, Mankun Technology, Jenshan Precision, Apeman innovations, Huiye, Dongguan Eswin Technology, Huide , and Ebfec e-bike manufacturer Ebfec,” Panga said.
Panga emphasized the importance of continuing engagement with China for the Philippines’ economic growth, citing ASEAN’s status as China’s largest trading partner and the growing two-way trade and investments between the two regions.
PEZA is actively working to enhance the ecozone program, providing the best location and business ecosystem for investors.
The agency aims to attract Chinese FDI into sectors such as electronics, automotive/transport, machinery/metal fabrication, plastic molding, and energy development.
The mission included visits to leading Chinese locators such as C&U, Mass Power, Readore, Boamax, and Huading, showcasing their advanced technologies and global industry leadership.
PEZA also participated in the 24th China International Fair for Investment and Trade (CIFIT) in Xiamen, joining the Philippine delegation in attracting more trade and investments from China.
PEZA collaborated with the Board of Investments (BOI) during the four-day trade and investments trip from Sept. 8 to 11, 2024.
PEZA said there are 189 Chinese RBEs in the country’s economic zones, generating P47.3 billion in investments and 46,501 direct jobs.
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