THE government is now eyeing the completion of 90 active investments leads from Chinese companies to generate more business activities in the country.
Gracing the 33rd Biennial Convention of the Federation of the Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCCII) in Pasay City on Thursday, President Ferdinand R. Marcos Jr. said the Board of Investments (BOI) is now closely monitoring progress on the deals.
“I am pleased to share that as of February 2023, the BOI, the Board of Investments is monitoring 90 active investment leads from Chinese companies engaged in manufacturing, information technology, business process management, and renewable energy,” Marcos said his speech.
The Presidential Communications Office (PCO) noted the country secured the said investment leads following Marcos’s visit to China in January with the help of the FFCCCII.
The President urged FFCCCII members to take advantage of the pending investment deals to further expand their businesses.
“May you all take hold of and maximize these prospects as you venture into your next endeavors for the benefit of our people and for our communities,” Marcos said.
He said his administration has already addressed the concerns of FFCCCII, which includes ensuring the country will have “sufficient power supply and lower electricity costs.”
To streamline the “documentary, legal, bureaucratic requirements” of FFCCCII and other potential investors, the President said the government will set up “green lanes” in every department.
“As President, it is my duty to create an enabling environment for businesses and make the Philippines a preferred investment destination for everyone,” Marcos said.
“In return, I only ask that you continue to do what you do best: to remain industrious, innovative, and compassionate in improving the lives of our people through your business initiatives,” he added.
The FFCCCII is a non-stock, non-profit corporation composed of 170 member chambers and trade associations across the country.
It is currently holding its Biennial Convention from March 23 to 26, 2023.