President Ferdinand R. Marcos Jr. said on Thursday the Board of Investments (BOI) has been monitoring 90 active investment leads from Chinese companies across multiple sectors following his state visit to China in January.
“I am pleased to share that as of February 2023, the BOI, the Board of Investments is monitoring 90 active investment leads from Chinese companies engaged in manufacturing, information technology, business process management, and renewable energy,” President Marcos said in his speech during the 33rd Biennial Convention of the Federation of the Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCCII) in Pasay City.
“May you all take hold of and maximize these prospects as you venture into your next endeavors for the benefit of our people and for our communities,” the chief executive told the officers and members of FFCCCII.
Appreciating FFCCCII’s participation in the recent presidential visit to China, President Marcos assured Chinese-Filipino businessmen that the issues they raised last September during a courtesy call with him are already being addressed by his administration.
To attract more investments in the energy sector, as well as ensure sufficient power supply and lower electricity costs, the President said his administration amended the Implementing Rules and Regulations (IRR) of the Renewable Energy Act, which removes foreign ownership restrictions for certain Renewable Energy (RE) generation projects in the Philippines.
To further streamline the business permit and licensing processes, the administration also issued an Executive Order constituting green lanes for strategic investments.
These are just some of the recent exciting opportunities, proving that the relationship between the government and the federation remains enduring and thriving in a highly globalized world, President Marcos said, stressing that as head of state, it is his duty to create an enabling environment for businesses and make the Philippines an investment haven.
“In return, I only ask that you continue to do what you do best: to remain industrious, innovative, and compassionate in improving the lives of our people through your business initiatives,” the President said.
The chief executive also recognized FFCCCII’s role as catalyst for growth since its inception in 1954, underscoring its initiatives to reach out to as many communities as possible with its Operation: Barrio Schools and Operation: Bakuna.
“We deeply appreciate your assistance in conducting medical missions and typhoon
and earthquake relief operations. As you conduct your biennial convention today, may you reaffirm your commitment to support the government in accelerating the country’s development efforts,” the President pointed out.
The FFCCCII is a non-stock, non-profit corporation composed of 170 member chambers and trade associations across the country, which are actively engaged in trading, manufacturing, service industry and other economic activities.
The Federation’s four-day convention, attended by around 820 delegates including the country’s top Filipino-Chinese business leaders, has for its theme: “Unity for Development and Prosperity.” #