BEIJING, Aug. 29 (Xinhua) -- The Philippine Investment Briefing was held Wednesday in Beijing to boost the innovative and pragmatic cooperation between China and the Philippines and help Chinese firms to seize the investment opportunities brought by the Belt and Road construction.
The briefing conference was hosted by the China-ASEAN Business Council and the Philippine Embassy in China and co-hosted by Qingyun County People's Government in east China's Shandong Province.
Xu Ningning, Executive President of the China-ASEAN Business Council, delivers a speech at the Philippine Investment Briefing held in Beijing on August 29.
The Chinese investment approved by the Philippines in 2018 reached about 970 million U.S. dollars, hiking by 2,072 percent from 2017, indicating that Chinese firms have paid close attention to the investment opportunities in the Philippines, said Xu Ningning, Executive President of the China-ASEAN Business Council.
In 2019, the Philippine economy is expected to grow by more than 6 percent, a sign of multiple business opportunities, added Xu.
Glenn G. Peñaranda, Commercial Counsellor of the Philippine Embassy in China, delivers a speech at the Philippine Investment Briefing held in Beijing on August 29.
According to the Commercial Counsellor of the Philippine Embassy in China Glenn G. Peñaranda, Chinese firms have already invested 478 million U.S. dollars in the Philippines so far this year, up 245 percent over 2018.
Chinese investment is welcomed in infrastructure, manufacturing, agriculture, fisheries and forestry, medical services, public housing, energy, tourist facilities, service industry and other key areas in the Philippines where boasts rapid economic growth and stable investment environment, noted Peñaranda.
According to Hu Xiaoqin, deputy head of Qingyun County, Qingyun County is currently negotiating cooperation with counterparts of the Philippines in the health and regimen field, and hopes to further extend investment cooperation with the country in the future.
Apart from Qingyun County, the Philippines plans to carry out cooperation with more county-level regions in China in the near future, said Isidro A.Consunji, Chairman with the Philippine Overseas Construction Board. (Edited by Gu Shanshan)
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