Bank of China bringing in new batch of investors to Phl

MANILA, Philippines - Bank of China (BOC), the fourth largest bank in the world, continues to serve as a bridge between Chinese and Philippine enterprises as it brings in a new batch of firms to the country this month.

 In an  effort to  strengthen economic ties between the Philippines and China, the BOC is set to bring 150 Chinese investors to the 12th ASEAN Finance Ministers’ Investors Seminar scheduled this month in Mactan, Cebu.

 Last month, more than 320 small and medium enterprises (SMEs) from China and 350 from the Philippines participated in a matchmaking process as part of the BOC SME Cross-Border Trade and Investment Conference in Manila.

The ASEAN Finance Ministers’ Investors Seminar is an annual event where ASEAN ministers meet with investors, both within and outside the region, to promote the region as an attractive investment destination. 

The Cebu event will highlight investment opportunities in Southeast Asia and explore financial market development and economic potentials.

BOC said it aims to seize trade and economic opportunities and encourage investments in Cebu and the rest of the region which will be made available during the 12th ASEAN Finance Minister’s Seminar.

The agency’s previous matchmaking services are seen as enabling Filipino companies  to interconnect  with SMEs in China and help them share in the global value chain. 

“Our partnership with the Philippines aims to open opportunities for local businesses and bridge markets across the globe. By promoting trade, we hope to accelerate growth for both our countries,” said BOC country head Deng Jun.

BOC’s initiatives are part of the signed strategic cooperation agreement with the Department of Trade and Industry, Philippine Chamber of Commerce and Industry, and the International Chamber of Commerce Philippines, as witnessed by President Duterte in Beijing in October last year. 

The agreement comes together with BOC’s pledge to open a $3 billion credit facility to aid in the development of Philippine industries and infrastructure.