Chinese businessmen eye more investment opportunities in the Philippines at the Global Construct City launching in Mexico, Pampanga

DTI Photo

During the launch of Jinjiang Building Materials and Home Furnishing Exhibition Center at the Global Construct City (GCC) held on February 28, 2023 at Mexico City, Pampanga, Department of Trade and Industry (DTI) Trade and Promotions Assistant Secretary Glenn Peñaranda joined Former President and Senior Deputy Speaker Gloria Macapagal-Arroyo and Pampanga Governor Dennis “Delta” Pineda as they graced the opening of the GCC to further promote the Philippines as a strategic location for investment on factories and assembly plants.

In his remarks, Asec. Peñaranda commended the opening of the GCC project, which not only envisions more affordable building and home materials for Filipinos, but also contributes to make the Philippines become more attractive to foreign investors while providing jobs to people in the area toward a post-pandemic economic recovery.

“It is truly inspiring that we have established local businessmen who continue to invest in the development of our local enterprises and bring in foreign investors in the process.” said Asec. Peñaranda.

According to global real estate management firm, Colliers, Central Luzon is now gradually becoming a preferred industrial hub in the Philippines.

Having 307 hectares of industrial space and existing industrial parks such as Global ASEAN Business Parks 1 and 2, and the San Simon Industrial Park, Central Luzon is vital in attracting job-generating manufacturing investments in our aim of robust economic growth and sustainable development for the country.

Further, the Trade and Promotions Asec. gave assurance of support from the Philippine government, together with the Philippine Embassy and Consulates in China, to help Chinese businessmen through the facilitation of services such as visa, business registration, and incentives as they pursue their business in the country.

In line with the issuance of Executive Order No. 18, which mandates the establishment of Green Lanes for Strategic Investments, Secretary Pascual stated in one of his speeches that, “DTI, with the support of the Philippine government, is also enabling cross-cutting mechanisms to ease and attract foreign investments. The establishment of Green Lanes will fast-track the processing of permits and licenses and offer the Board of Investments as a single point of entry for strategic investments. We encourage you to consider the opportunities this mechanism offers.”

The DTI is keen on ensuring an enabling business environment in the Philippines as we aim to promote the Philippines as an investment destination in the region.

“I wish the delegation success in their visit, and to the Chinese investors who are already in the country, rest assured that you will always have our continued support as you grow and expand your businesses in the Philippines,” said Peñaranda.

Also present at the event were Former presidential spokesperson Sec. Harry L. Roque Jr.; GCC project head, Mr. Jerry T. Sy; Jinjiang City officials led by Mr. Zhang Wen Sian; Chinese business executives, and members of the Filipino-Chinese businessmen in the country.

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