By Katrina Gracia Consebido
Following his state visit to China in January, President Ferdinand R. Marcos Jr. said the Board of Investments (BOI) has been monitoring 90 active investment leads from Chinese companies across multiple sectors.
Marcos made the statement in his speech at the 33rd Biennial Convention of the Federation of the Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCCII) in Pasay City on Thursday, March 23.
“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,” he said.
“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,” he added.
He also made assurance that the government is addressing the issues raised by the federation last September.
Ease of doing business
Marcos mentioned several measures to ensure the entry of more investments.
These include the amended the implementing rules and regulations (IRR) of the Renewable Energy (RE) Act to remove foreign ownership restrictions for certain RE generation projects in the country.
He also mentioned the issuance of an executive order creating strategic investment green lanes to streamline business permit and licensing processes.
“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,” he said.
“In return, I only ask that you continue to do what you do best: to remain industrious, innovate, and compassionate in improving the lives of our people through your business initiatives,” he added.
The President commended FFCCCII’s role as a “catalyst for growth” since 1954.
The FFCCCII is a non-stock, non-profit corporation with 170 member chambers and trade associations across the country that trade, manufacture, service, and other economic activities.
The Federation’s four-day convention, attended by 820 delegates, including top Filipino-Chinese business leaders, has the theme “Unity for Development and Prosperity.” -ag
