The Board of Investments (BOI) said Tuesday at least five companies are keen on investing or expanding their operations in the Philippines following a successful six-day investment promotion roadshow in China.
Companies with stakes in electric vehicles (EVs), consumer goods manufacturing, infrastructure, green metals and mining met with the Philippine trade delegation in Xiamen.
Trade Undersecretary and BOI managing head Ceferino Rodolfo led the Philippine delegation, which concluded its roadshow, positioning the Philippines as the regional hub for smart and sustainability-driven manufacturing and services.
“We conveyed to the investors that our goal is to transform the Philippine economy to enter a virtuous cycle of sustained economic growth,” he said.
The roadshow, which covered Beijing, Hong Kong and Xiamen, documented the Philippines’ participation in the 2024 China International Fair for Investment and Trade (CIFIT).
The roundtable meeting in Beijing gathered the DTI’s strategic partners, including the ASEAN-China Centre (ACC), the Power Battery Applications Committee of China Industrial Association of Power Sources (CIAPS-PBA), China Overseas Development Association (CODA), and the RCEP Industry Cooperation Committee (RICC).
The BOI and Philippine Trade and Investment Centers (PTICs) in China engaged with 21 companies in various sectors such as renewable energy equipment manufacturing, electric vehicle manufacturing, and agribusiness. Othel V. Campos
The Philippine delegation included representatives from various investment promotion agencies (IPAs) such as the BOI, the Philippine Economic Zone Authority (PEZA), the Bases Conversion and Development Authority (BCDA) and industrial park developers Aboitiz InfraCapital and First Philippine Industrial Park (FPIP).
The BOI collaborated with the PTIC in Guangzhou to organize the six-day roadshow from Sept. 8 to 13, 2024.
BOI-approved investments from China surged by 237 percent in the first nine months of 2024, reaching P1 billion and making China the 7th top investor in the Philippines.
