Chinese firms bullish on PH – FFCCI’s Angel Ngu
MANILA — More Chinese companies are keen on investing in the Philippines, encouraged by its robust economic growth and huge market.
“We received a lot of (business) delegations that are inquiring about all (sectors) especially in tourism, infrastructure, chemicals, fruits and so many,” bared Angel Ngu, honorary president of the Federation of Filipino Chinese Chambers of Commerce and Industry, Inc.
Ngu said Chinese interest in the Philippines has soared with the normalization of relations of the two countries following the visit of President Rodrigo Duterte to China last October 2016.
“A lot not only tourists, but at the same time businessmen (engaged in) manufacturing and also some of the big companies are coming to the Philippines,” he said Thursday during the China-Philippines dialogue.
“I can say on this year, we have an increase of around 15 percent. We foresee that it will increase maybe by next year to 30 percent so everybody in our line was upgrading our own facilities not only in quality but also in quantity,” he said.
Aside from China, Ngu said other Southeast Asian countries were also looking to expand in the Philippines.
“I have some inquiry from Malaysia and Singapore, even Taiwan. They are coming because the Philippines is a huge market. They say, we have a hundred million population,” he added.