30 biz groups from China, HK coming to PH

By Kris Crismundo

February 14, 2018, 6:08 pm

MANILA -- Investors from Hong Kong and mainland China would be visiting the country in April for a business mission, Hong Kong Chamber of Commerce of the Philippines, Inc. (HKCCPI) President Anthony Chan said.

Chan shared to the Philippine News Agency (PNA) that the business delegation coming to the Philippines would be composed of 30 high-profile businessmen from Hong Kong and China.

The delegation will be led by Hong Kong Trade Development Council (HKTDC) Chairman Vincent Lo.

“They are looking for investment opportunities,” said Chan.

Chan added the visiting businessmen are interested in sectors of agriculture, infrastructure, and industrial parks.

In a previous interview, Chan said investors from Hong Kong welcome the reforms of the Duterte administration.

He said the tax reform and the government’s fight against corruption are attracting more Hong Kong investors to come to the Philippines.

“The tax reform, especially the reduction in income tax rates, also makes the Philippines more attractive and investment-friendly. We also see the current administration really mean to cut or weed out corruption that tremendously encourage investment and job creation,” the HKCCPI chief said.

Chan noted that businesses in the Philippines and Hong Kong can boost their partnership with the development in the region after the ASEAN-Hong Kong Free Trade Agreement was signed during the country’s ASEAN chairmanship in 2017.

Last year, it was the first time that Manila hosted the Asia Forum of Hong Kong Business Associations.

Chan said this reflected the renewed interest of Hong Kong investors in the country after it was delisted from Hong Kong’s tourism blacklist, following the August 2010 Manila hostage crisis where the victims are tourists from Hong Kong. (PNA)