BOI and Bank of China seal deal to jointly promote investments
Published Mar 3, 2018 12:00 am
By Bernie C. Magkilat
The Board of Investments (BOI), the government’s premier investments promotion arm, has signed a Memorandum of Understanding (MOU) with Bank of China, one of China’s leading financial institutions,
for the joint promotion of investments.
Photo shows Trade Undersecretary and BOI Managing Head Ceferino S. Rodolfo (left) and Bank of China Ltd. – Manila Branch Country Head Deng Jun) show the signed Memorandum of Understanding on the promotion of investments in the Philippines.
Under the MOU, BOI and BOC will establish cooperation to promote investments through the conduct of investment seminars or missions, including business matching activities.
Both parties will also collaborate to foster economic and industrial linkages between investors and corporations by way of information monitoring and sharing on doing business and industry data.
As needed, BOI and BOC will also set up a special working team to undertake areas of cooperation and other shared efforts to attract more investments to pour in the Philippines.
Trade Undersecretary for Industry Development and BOI Managing Head Ceferino S. Rodolfo, who signed the MOU on behalf of the agency said, “We are delighted to offer various investment opportunities that can be registered with the BOI through the 2017-2019 Investment Priorities Plan for Chinese companies. The BOI can help investors starting with their due diligence up to the company’s full operation. We hope that through this collaboration, the Philippines and China economic relations will continue to prosper and bring in more Chinese investors to do business in the country.”
Bank of China Ltd. – Manila Country Head Deng Jun said more Chinese investors are showing genuine interest to do business here, the BOC’s mission is to be the bridge between the Chinese market and the Philippine market and promote the use of RMB as an alternative settlement currency to lower the cost of trade between these 2 countries.
China continuously pours in notable investments in the country, ranking eight top investors in the Philippines. China’s investments in the Philippines reached R2.07 Billion in the first nine months of the year, 388 percent higher than its total investments in the same period in 2016.
The Philippines and China relations continue to strengthen as both countries embarked on undertaking various agreements and initiatives which aims to further improve and develop economic relations. Some of the recent significant events between the two economies include the signing of $13.5 billion worth of business agreements and Memoranda of Understanding during the four-day Presidential Visit to China last October 2016, covering trade and investments, agriculture up to maritime security which is expected to generate over one million jobs into the Philippines. (BCM)
Photo shows Trade Undersecretary and BOI Managing Head Ceferino S. Rodolfo (left) and Bank of China Ltd. – Manila Branch Country Head Deng Jun) show the signed Memorandum of Understanding on the promotion of investments in the Philippines.
Under the MOU, BOI and BOC will establish cooperation to promote investments through the conduct of investment seminars or missions, including business matching activities.
Both parties will also collaborate to foster economic and industrial linkages between investors and corporations by way of information monitoring and sharing on doing business and industry data.
As needed, BOI and BOC will also set up a special working team to undertake areas of cooperation and other shared efforts to attract more investments to pour in the Philippines.
Trade Undersecretary for Industry Development and BOI Managing Head Ceferino S. Rodolfo, who signed the MOU on behalf of the agency said, “We are delighted to offer various investment opportunities that can be registered with the BOI through the 2017-2019 Investment Priorities Plan for Chinese companies. The BOI can help investors starting with their due diligence up to the company’s full operation. We hope that through this collaboration, the Philippines and China economic relations will continue to prosper and bring in more Chinese investors to do business in the country.”
Bank of China Ltd. – Manila Country Head Deng Jun said more Chinese investors are showing genuine interest to do business here, the BOC’s mission is to be the bridge between the Chinese market and the Philippine market and promote the use of RMB as an alternative settlement currency to lower the cost of trade between these 2 countries.
China continuously pours in notable investments in the country, ranking eight top investors in the Philippines. China’s investments in the Philippines reached R2.07 Billion in the first nine months of the year, 388 percent higher than its total investments in the same period in 2016.
The Philippines and China relations continue to strengthen as both countries embarked on undertaking various agreements and initiatives which aims to further improve and develop economic relations. Some of the recent significant events between the two economies include the signing of $13.5 billion worth of business agreements and Memoranda of Understanding during the four-day Presidential Visit to China last October 2016, covering trade and investments, agriculture up to maritime security which is expected to generate over one million jobs into the Philippines. (BCM)