The Philippines has become a new territory for Chinese enterprises to invest in, and the manufacturing industry has become a focus

by:Gewinn     2022-04-23
'I came here this time to see what business opportunities there are.' 'Before the influence of political factors, the company did not enter the Philippine market, but now the bilateral relations are picking up, and we are trying to develop the Philippine market.' 'No matter how political relations go, it still needs to develop. Economy.' At the scene of the China-Philippines Economic and Trade Cooperation Forum held on October 20, the reporter felt a strong atmosphere of exchanges and cooperation. There are many Chinese in the Philippine representatives, so there is no language barrier in the communication between the two sides, and some Chinese even take the initiative to act as translators. Jiang Zengwei, chairman of the China Council for the Promotion of International Trade, pointed out at the meeting: 'The active participation of companies from both sides shows everyone's urgent desire to carry out in-depth exchanges and strengthen cooperation.' Dispelled companies' concerns about the investment environment in the Philippines. He said that the Philippines has a good investment environment. From the landing of the enterprise to the entire operation process, the Philippines provides good protection and incentive mechanisms, such as a special 5% income tax rate; 8% tax exemption for training; tax-free import of capital, equipment, accessories, etc. In terms of legal protection, the 'Philippine Joint Loading Law' allows the transportation and shipment of foreign goods, and the 'Competition Law' will provide a level playing field for foreign investors investing in the Philippines, prohibiting unequal competition, monopoly and unreasonable mergers and acquisitions. Nora Trado also emphasized that the Philippines has opened up investment opportunities in many fields, which are valuable to Chinese investors, such as bicycles and electric vehicles in the manufacturing industry, high-end textiles, high-value-added food, as well as construction and tourism. , can be carried out in the form of public-private partnership. Cai Congmiao, Philippine Chairman of the China-Philippines Business Council, said that China and the Philippines have a history of cooperation for more than 600 years and have very close business ties. Although they have experienced some setbacks, they will further strengthen economic, trade and cultural exchanges. The Philippines has welcomed new President Duterte, creating a good atmosphere for bilateral relations. Duterte has repeatedly said that the Philippines needs to develop infrastructure. State Grid Corporation of China is the largest power company in the world. It established the National Grid Corporation of the Philippines (NGCP) in 2009 to participate in the operation of the Philippine National Transmission Grid and train a large number of outstanding grid managers for the Philippines. Over the past 7 years, NGCP has achieved remarkable results, successfully completed the power protection work for major events such as the APEC Philippine Summit and the presidential election, and through the NGCP Disaster Emergency Command Center, it has repeatedly overcome the challenges of major natural disasters to power grid security. Shu Yinbiao, chairman of State Grid Corporation of China, said that in the future, they will further improve the operational performance and service level of NGCP, and strive to provide high-quality and reliable power supply for the sustainable economic and social development of the Philippines. At the same time, it is willing to actively support the construction of energy infrastructure in the Philippines, and carry out more extensive practical cooperation with its counterparts in the Philippines in power development, equipment manufacturing, technological innovation, etc., so as to promote energy cooperation to a new level. Sany Heavy Industry Group ranks fifth in the world in the field of construction machinery and first in the field of concrete machinery. Its industry covers many fields such as port machinery, coal machinery, wind power generation, and precision CNC machine tools. In 2006, it established an office in the Philippines. , which now generates more than $30 million in annual sales in the Philippines. Xiang Wenbo, president of Sany Heavy Industry, pointed out that many industries have good market prospects in the Philippines, and the sound political foundation between the two countries now provides a strong guarantee for cooperation between enterprises. He expressed his willingness to cooperate with Philippine entrepreneurs at various levels.
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