Hong Kong investors bullish on Philippines
The Board of Investments (BOI) said an 11-man delegation composed of representatives from business chambers, banking community and infrastructure and manufacturing companies from Hong Kong recently visited the country to explore investment opportunities. File
MANILA, Philippines — Investors from Hong Kong are upbeat on the Philippines’ investment prospects, training their sights on the country’s agriculture, tourism, infrastructure and manufacturing sectors.
The Board of Investments (BOI) said an 11-man delegation composed of representatives from business chambers, banking community and infrastructure and manufacturing companies from Hong Kong recently visited the country to explore investment opportunities.
The BOI said the Hong Kong delegates conducted due diligence and expressed particular interest in agriculture, tourism, infrastructure and manufacturing industries.
“We are delighted to know there is a very clear signal that the Philippines looks forward to 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,” Hong Kong Trade Development Council executive director and Hong Kong delegation head Margaret Fong said.
With the recent signing of the ASEAN-Hong Kong Free Trade Agreement, Trade and Industry-Foreign Trade Service Corps coordinating officer Alma Argayoso said the government continues to work on building a closer relationship between the Philippines and Hong Kong.
Argayoso said the country is ready to deepen its economic partnership with Hong Kong and is willing to share success in fostering an enabling the business environment.
“As we move forward to further strengthen foreign business partnership, the Department of Trade and Industry and the BOI will continue to uphold the Philippine investment priorities by providing sufficient information and assisting investors on how to invest and do business in the Philippines,” Argayoso said.
According to the BOI, Hong Kong remains a strong partner of the Philippines in terms of trade and investments, ranking as the 11th source of inward foreign investments for the three quarters of 2017.
The volume of investments from Hong Kong soared 107.1 percent to P1.52 billion in the first nine months from P732.2 million a year go.
- Latest
- Trending
