SOME 300 businessmen from China and the Philippines will explore the possibility of investing in the two countries during the two-day Boao Forum for Asia (BFA) in Manila, the leadership of the House of Representatives announced on Sunday.
The event on Monday and Tuesday, spearheaded by Speaker Gloria Macapagal-Arroyo, seeks to bring together some of the country’s business leaders and their Chinese counterparts.
According to Arroyo, the event with a theme “Concerted Action for Common Development in the New Era” will also foster closer ties and create goodwill between the Philippines and China, building on the momentum for cooperation created by President Rodrigo Duterte and President Xi Jinping during the latter’s State Visit last November.
Arroyo, who extended the invitation to the BFA to hold the conference in Manila, is a member of the Board of the BFA.
The conference is expected to convene approximately 300 participants. Among them will be 100 business leaders from China, 100 business leaders from the Philippines and 100 executives from the Chinese enterprises in the Philippines.
Arroyo, in a statement, said senior officials of the Philippine government and business chambers are also expected to address and interact with the audience.
The event will be attended by President Duterte, who will deliver the Keynote Speech, as well as BFA Secretary-General Li Badong. Members of the Cabinet and several Chinese officials are also taking part in the event at the Shangri-La in BGC, Taguig.
It aims to help the visiting Chinese entrepreneurs better understand the business environment and related policies of the Philippines, introducing BFA to the Philippine government and business community and implementing the important consensus reached by top leaders of the two countries, and strengthening the alignment of the Belt and Road Initiative with the development strategies of the Philippines and Asean.
The BFA and the Federation of Filipino-Chinese Chambers of Commerce and Industry Inc (FFCCII) will cosponsor the conference, with the Philippine Chamber of Commerce and Industry (PCCI), the Philippine Exporters Confederation Inc. (Philexport) and the Chinese Embassy in the Philippines as supporting partners.
The BFA, often referred to as the Davos of Asia, has become a high-end platform for dialog among leaders of national governments, industrial and business circles, and academic circles of countries in Asia and other continents about the important issues in Asia and even the whole world.
China a partner—GMA
Earlier, Arroyo said the China is a partner and not a threat to the Philippines amid issues on the disputed islands in the West Philippines Sea.
She said China through the years has proven wrong the negative notions of its policies toward reform, and has been opening up as it has become the country’s No. 1 partner in the development.
Arroyo added that China has also been a major market for Filipino-Chinese businessmen as they have been investing in China.