BoI joins top-level China trade expo
BoI and the Philippine Trade and Investment Centers in China have jointly organized the Philippine visits to CIFIT since 2020
Daily TribuneBoI and the Philippine Trade and Investment Centers in China have jointly organized the Philippine visits to CIFIT since 2020
Chinese Vice Premier Hu Chunhua, also a member of the Political Bureau of the Communist Party of China Central Committee, addresses the opening ceremony of the 21st China International Fair for Investment & Trade in Xiamen, southeast China’s Fujian Province on 8 September. | xinhua
The country being a prime investment destination was the message the Board of Investments wanted to impart in its participation at the 22nd China International Fair of Investment and Trade the largest global investment event in China.
CIFIT is the only international investment promotion event aimed at facilitating bilateral investments.
BoI is bringing it "Make it Happen in the Philippines" spirit to the trade fair, seeking to promote opportunities that await prospective investors in high technology manufacturing industries, such as electronics manufacturing services, medical devices, electric vehicles, battery manufacturing, green metals, hyperscale computing, innovation and start-ups, and renewable energy, among others.
BoI and the Philippine Trade and Investment Centers in China have jointly organized the Philippine visits to CIFIT since 2020; the country's outing this year marks their third collaboration under the MIH brand.
The MIH investments promotion branding was officially launched in November 2020 and was influenced by two principles: traditional business wisdom, and the distinct Filipino commitment to making things work despite difficulties.
Go global
"Global Development: Sharing Digital Opportunities, Investing in Green Future" is the central message of this year's CIFIT. The fair seeks to showcase multilateral and bilateral cooperation, providing a platform that facilitates international investment. The themes were approved by the Global Association of the Exhibition Industry.
Based on the report by PTIC — Guangzhou in China, an estimated 2,000 individuals visited the Philippine Pavilion at last year's CIFIT. The country's efforts then generated a total of 64 project proposals, 37 of which have estimated project costs of P506 billion. In addition, the Philippines conducted supporting events like the Philippine Investments Forum, PEZA-86Links Industrial Parks Forum, Philippine Construction and Infrastructure Investment Opportunities Forum, as well as roundtable and one-on-one meetings during CIFIT 2021.
The country's participation in CIFIT builds up the country's standing as a preferred investment location for Chinese companies. It moreover reflects the government's recognition of China as a priority market.
The Philippines has been the Guest Country of Honor for two consecutive years, in 2020 and 2021 — an honor shared by no other country in the event's history. The investment fair is to run from 8 to 11 September in Xiamen, China.
