Hong Kong businessmen remain upbeat in the country’s investment prospects as an 11-man delegation recently visited the Philippines to explore investment opportunities.
Composed of representatives from key business chambers, infrastructure and manufacturing companies and banking community, the Hong Kong delegates conducted due diligence in the country with particular interest in agriculture, tourism, infrastructure, and manufacturing industries.
The delegates also attended an investment briefing facilitated by the Philippine Board of Investments (BOI) at the BOI Building in Makati City.
Department of Trade & Industry-Foreign Trade Service Corps (DTI-FSTC) Coordinating Officer Alma F. Argayoso, head of the Philippine panel was optimistic that the investment briefing served as an excellent platform in building a closer relationship between the Philippines and Hong Kong, with the recent signing of the ASEAN-Hong Kong Free Trade Agreement. She affirmed the country’s readiness for deeper economic partnership with Hong Kong and willingness to share successes in fostering an enabling business and investment environment of the Philippines.
“As we move forward to further strengthen foreign business partnership, the Department of Trade and the BOI will continue to uphold the Philippine investment priorities by providing you sufficient information and assisting you on how to invest and do business in the Philippines”, said Ms. Argayoso during her welcome remarks.
|In photo: The Hong Kong delegation together with the Philippine panel during the BOI Investment Briefing led by DTI FTSC Coordinating Officer Alma F. Argayoso (front row, seated, third from right), Ms. Lanie Dormiendo of the BOI International Investments Promotion Service (front row, seated, fourth from right), and Hong Kong Trade Development Council (HKTDC) Executive Director Margaret Fong (front row, seated, fourth from left).|
Hong Kong Trade Development Council (HKTDC) Executive Director and Hong Kong delegation head Margaret Fong meanwhile thanked the Philippine panel for the generous support and time devoted to the first ever Hong Kong delegation of the HKTDC since the signing of the ASEAN-HK Free Trade Agreement.
“We are delighted to know that there is a very clear signal that the Philippines look forward for further collaboration with Hong Kong not just in trade but also in the investment area. We are excited to take a look at a variety of opportunities specially in the Agriculture, Tourism, Infrastructure and Manufacturing sectors and shall come back to further discuss it in detail with you”, said Executive Director Fong in response to Ms. Argayoso’s remarks during the briefing.
Prior to the investment briefing, the Hong Kong delegation have also met with the Department of Trade & Industry’s Export Marketing Bureau (EMB) and Philippine Economic Zone Authority (PEZA). The investment briefing facilitated by the BOI concluded the three-day business trip of the delegation in the country.
Hong Kong remains a strong partner of the Philippines in terms of trade and investments, ranking as 11th source of inward foreign investments for the first nine months of 2017. The volume of investments from Hong Kong significantly increased to 107.1 percent from Php732.2 million from January to September in 2016 to Php1.52 billion in the same period for 2017.♦