MANILA, Philippines - The Department of Trade and Industry (DTI) will proceed with activities aimed at promoting the Philippines as an investment destination in the 10th China-ASEAN (CAEXPO) to be held in Nanning next week, even as President Aquino has decided not to attend the event.
DTI Undersecretary Ponciano Manalo, Jr. told reporters yesterday he would attend the CAEXPO with DTI Secretary Gregory Domingo and other government officials next week to encourage Chinese investors to come to the Philippines, despite the President’s decision not to participate in the event.
“We are not holding back. The (DTI) Secretary will be representing the President and I will represent the Secretary of DTI...We will take care of that (CAEXPO),†he said.
The Department of Foreign Affairs announced the other day that the President has decided not to proceed to CAEXPO in consideration of China’s request for him to visit that country at another time.
This, as the Philippines rejected Beijing’s condition to withdraw the arbitration case it filed against China.
The Philippines filed an arbitration case before the United Nations (UN) against China in January to assert its claim over the West Philippine Sea, citing that the latter’s so-called nine-dash line claim encompassing the entire South China Sea or West Philippine Sea is contrary to the UN Convention of the Law of the Sea (UNCLOS).
Manalo said the DTI has been preparing different programs for the CAEXPO especially as the Philippines has been named the country of honor for this year’s trade show.
The CAEXPO, which is held every year since 2004, is a platform for economic and trade exchanges to further promote opportunities for cooperation and development between China and the ASEAN.
“The CAEXPO is an opportunity for us to invite investors from China and investors in China to invest in the Philippines,†Manalo said.
He said the government wants to encourage investments in four sectors here which are: agribusiness, infrastructure, tourism and manufacturing.
A roundtable discussion would be held during the CAEXPO which would give chief executive officers of Chinese firms a chance to interact with Domingo to know more about how they could invest here.
Manalo said a business forum has also been organized with business groups Philippine Chamber of Commerce and Industry and the China Council for the Promotion of International Trade from Philippine government officials would present the different investment opportunities and projects, as well as incentives to firms during the forum.
Business matching activities, Manalo said, would likewise be held during the trade show.
During the CAEXPO, some 40 Filipino firms would showcase their products.
“It is a business activity. We are pushing the Philippines as (an) investment destination. It would have been great if the President was there but we have prepared the way that he would prepare... heart of what we are doing is business promotions of the Philippines,†he said.