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PEZA anticipates more Chinese investments in PH
Philippine Economic Zone Authority Director General Tereso O. Panga said more Chinese companies are choosing the Philippines as their next investment destination for their operations, at the completion of the 20th China-ASEAN Expo last 19 September. “With our robust economic performance and aggressive investment strategy, we are bullish in attracting more Chinese investments to the country especially in our ecozones, which can provide the best business ecosystem for our investors,” said Panga. During the Philippine Investment Forum in China, Philippine Ambassador to China Jaime A. FlorCruz highlighted that Chinese investors have expressed positive and increased interest in locating in the Philippines. He reported that the state visit of President Ferdinand R. Marcos Jr. secured over $22 billion in strategic investment commitments. FlorCruz also stated that “In the past 6 months since I took this role as Ambassador, I have met many Chinese executives actively seeking investment opportunities across numerous industries in the Philippines. Many are now poised to invest in the Philippines.” After the forum, two big Chinese companies met with Philippine officials to discuss business opportunities. One company, a leading global provider of smart devices, seeks to expand its presence in the Philippines, especially in the area of consumer electronics. Another company, one of the five largest power generation groups in China, aims to bring in renewable energy projects to the country. PEZA seeks to attract investments from high-tech industries and emerging technologies in industrial manufacturing transport, technology media and telecommunications, health and life sciences, agro-processing, renewable energy development and green ores. To date, a total of 164 Chinese companies/projects are registered at PEZA, generating P25.822 billion investments (as of May 2023) and creating 16,221 direct jobs (as of March 2023). On the sidelines of the CAEXPO, Panga represented the Philippines during the Roundtable Meeting on Investment Cooperation with the theme: “China-ASEAN Cooperation in Green Low-Carbon and Digital Economy”. He noted, “The China-ASEAN Cooperation in Green Low-Carbon and Digital Economy represents a vital step toward sustainable development, environmental conservation and economic growth, not just for the participating nations but for the entire world.” The PEZA Chief also laid out some of the initiatives of PEZA and the national government to contribute to attaining the Sustainable Development Goals. These projects include the integration of SDGs to the Philippine Development Plan (PDP) 2023-2028 and PEZA’s participation in the Global Reporting Initiative. PEZA is strengthening its ecozone development initiatives as part of the medium-term strategies under the PDP 2023-2028. Panga explained that on top of the conventional ecozones, PEZA is venturing into new frontiers in ecozone development to cater to new industries and to promote emerging global eco-industrial park models in the Philippines. “We intend to transform our ecozones and our registered export enterprises to be more sustainable, resilient and innovative and thereby make them competitive in the local and global value chain,” he said. So far, PEZA manages 422 economic zones nationwide which host 4,352 locator companies engaged in various industries including export manufacturing and IT-BPO. Considered as one of the largest expositions in China, the CAEXPO is an international economic and trade event co-sponsored by the central governments of China and the ASEAN countries. It is one of the key projects that form part of the Philippine-China Development Plan and is a major promotional platform that supports the country’s ASEAN-China Free Trade Agreement. PEZA is the lone investment promotion agency partner of the Department of Trade and Industry export promotion arm Center for International Trade Expositions and Missions for the CAEXPO participation. Following this event, PEZA joined the Special Envoy to China for the Philippine Investors’ Roadshow in Beijing, China on 26-30 September 2023. The post PEZA anticipates more Chinese investments in PH appeared first on Daily Tribune......»»
Multinationals bullish on Philippines operations – HSBC
More multinational companies are looking at setting up shops or expanding their operations in the Philippines, touted as “Asia’s Rising Tiger,” according to the results of a survey conducted by British banking giant HSBC......»»
Villar group sets sight on hotel deals
The Villar Group is now targeting the hotel and tourism industry as a growth driver amid the strong rebound the travel sector is experiencing. Banking on the massive potential of the hospitality sector, business magnate Manuel Villlar Jr. is now taking decisive moves for his property companies to become a household name in the industry through the Brittany Hotel brand, which he recently acquired. “This one in Bonifacio Global City is my fanciest hotel until the next one opens. I have another Brittany Hotel in Daang Hari. That will be a bit smaller with only 120 rooms. It will be under the Brittany Hotel brand, which I plan to make a chain. It’s not Makati that’s in anymore, it’s Villar City now,” Villar said. “I’m bullish on the hotel (business), it’s good locally. The Philippines has just begun and I think the local hotel industry is just now picking up and I think the per capita income is getting higher,” he added. This ambition is on top of the ongoing development of Villar City — the family’s most ambitious project to date. It is envisioned to be a massive master-planned integrated development that will be composed of 15 satellite cities. It is also poised to be about 10 times as big as Bonifacio Global City — indicating its sheer magnitude not only in terms of the number of homes, offices, and complexes that will be built within this vast community. Infra also on table As part of the development, Villar recently announced that he will expand the LRT-1 Cavite Extension Project to Dasmariñas, Cavite at no cost to the government. The entire LRT-1 extension project of the Light Rail Manila Corp. or LRMC covers major cities such as Quezon City, Caloocan, Manila, Pasay and Parañaque. It is designed to cater to up to 800,000 passengers daily. Villar’s proposal, which he said had already been on the table for quite some time, will extend the project further from Las Piñas City to Dasmariñas, Cavite through seven new stations. He did not disclose how much the project would cost but he said “it will be big.” Notably, Villar said it was the Ayala and the Pangilinan groups who reached out to him to start a partnership to take on the railway project. The post Villar group sets sight on hotel deals appeared first on Daily Tribune......»»
Companies bullish on recovery
Filipino and Japanese-owned companies are bullish about the recovery of the Philippines from the pandemic-induced recession, according to Security Bank Corp. and Tokyo-based MUFG Bank Ltd......»»
Bus firm remains bullish on business prospects this year
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Shell PH bullish, eyes 70 new outlets
The Shell Companies in the Philippines unveiled a plan to expand the retail network with additional 50 to 70 outlets and extend its newly-launched power business, a top executive said Monday night......»»
Mixed adjustments in pump prices expected during first week of April
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Digital TIN IDs issued reaches 100,000
he Bureau of Internal Revenue has issued 100,000 tax identification number IDs in digital form as more Filipinos opt out from lining up at district offices......»»
Bullish amid wars
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Companies State it Takes More Than 6 Months to Fill Cybersecurity Positions
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Stop motorcycle taxi expansion, Marcos urged
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Resumption of FTA talks seen to spur higher EU investments
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ICT spending in AsPac reaches $1.3 trillion in 2023
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CAB: Expect no changes in airfares next month
Travelers planning to book a summer trip can expect airfares to remain the same in April, as the government made no changes in the fuel surcharge that airlines can pass on......»»
Philippine food firms’ sales hit $133 million in Dubai fair
Philippine food companies generated $133 million worth of export sales from a food trade show held in Dubai last month, according to the Center for International Trade Expositions and Missions......»»
Meralco reminds public of electrical safety tips this Holy Week
Electric concessionaire Meralco said that its personnel will attend to the needs of its customers during Holy Week despite its offices being closed from Maundy Thursday to Black Saturday......»»
DFA launches e-Apostille service; first in Asean region
MANILA, Philippines — The Department of Foreign Affairs Office of Consular Affairs (DFA – OCA) announced that it launched an e-Apostille service for civil registry documents. DFA said the system will allow the public to apply online for e-documents and e-Apostilles from the Philippine Statistics Agency (PSA) without having to appear in both offices. Foreign Affairs.....»»
LTO-7 on high alert for Holy Week
CEBU CITY, Philippines — The Land Transportation Office in Central Visayas (LTO-7) is on high alert starting March 24 to 31, for the Holy Week. The LTO-7 announced their “Oplan Biyaheng Ayos: Semana Santa and Summer Vacation 2024” in a press release last Friday. Director Glen Galario has instructed all LTO-7 district and extension offices.....»»
Lady Spikers remain on track
Reigning champion La Salle kept a stranglehold of second spot with a 25-19, 25-21, 25-18 win over FEU in the second-round elims of the UAAP Season 86 women’s volleyball tournament yesterday at the Smart-Araneta Coliseum......»»
SEC wants SMEs to embrace sustainability
The Securities and Exchange Commission (SEC) wants to instill sustainability into the business practices of not only big companies but also the small and medium enterprises......»»