PH Gets Chinese Companies’ Investment Pledges worth USD 9.8B

The Department of Trade and Industry (DTI) welcomed USD 9.8 billion-worth of investment intentions from Chinese companies that will cover the construction, electronics, agriculture, tourism, and pharmaceutical sectors, and will provide an estimated 10,800 employment opportunities.

“Investments are important in bringing more job opportunities for all Filipinos. Our bilateral cooperation with China continues to deepen and strengthen. We have agreed to discuss cooperation plans for the next five or even up to 10 years to move forward in specific fields,” said President Rodrigo Roa Duterte.

“As one of the world’s top investment destinations, the Philippines enjoys the confidence of foreign direct investors. And due to our enhanced bilateral and trade relations with China, Chinese companies have increasingly expressed interest in investing in our country,” added Trade Secretary Ramon Lopez.

The President witnessed the signing of nine Letters of Intent (LOI) from the following companies: Shanghai GeoHarbour Group, Jovo Group Co. Ltd. Guangdong, Zhongfa Group, Haocheng Group, China Green Agriculture Group, East-Cloud Biz Travel Ltd., China National Heavy Machinery Corporation, Sino BMG, as well as Shanghai Shinehigh Biotechnology Ltd. Co. and Zhejiang Dongyang Jinxin Chemical Co. Ltd. The signings were held at the sidelines of the Boao Forum 2018 held in Boao, China on 10 April.

The total approved investments from China grew by 53.61% from Php 1.52 billion in 2016 to Php 2.33 billion in 2017. Industries that played a big role in this breakthrough include manufacturing, electricity, service, and finance.

In 2017, China ranked as PH’s top trading partner, 4th largest export market, and top import supplier. PH exports to China grew by 9.73% due to the increase in exports of digital monolithic integrated circuits, cathodes of refined copper, and other fixed capacitators.

“We continue to improve the Philippine business environment and soon, we will be adopting new domestic policies and regulations to promote ease of doing business and competitiveness in various industries,” Sec. Lopez said.

Meanwhile, DTI is strengthening its presence in China by activating three offices and deployment of commercial officers in Beijing, Shanghai, and Guangzhou.

The Department will also lead the Philippine delegation to the inaugural edition of the China International Import Exposition (CIIE) on November. This major event is organized by the Chinese government to facilitate increase in imports from partner countries and contribute to balancing bilateral trade. The Philippine delegation will consist of major Filipino exporters and will occupy 100 booths in the Enterprise Zone.

*This is Press Release

DTI-DOST to expand MSME marketing capabilities through OneSTore.ph

The Department of Trade and Industry (DTI) will tie up with the Department of Science and Technology (DOST) to help micro, small and medium enterprises (MSMEs) expand their market and reach clients online with the OneSTore.ph.

“MSMEs are the backbone of the Philippine economy. And as part of President Rodrigo Duterte’s whole-of-government approach to assist MSMEs, we are teaming up with DOST to impact the lives of more Filipino entrepreneurs,” said DTI Secretary Ramon M. Lopez.

The OneSTore.ph is a first government e-commerce platform (Business–to-Customer and Business-to-Business platform) dedicated to marketing high-quality Filipino products of MSMEs through the worldwide web by “bringing quality products at Filipino doorsteps.”

This comes as DTI intensifies marketing capabilities of MSMEs to help them reach the mainstream market.

Under the OneSTore.ph agreement, DTI will Promote the oneSTore.ph to MSMEs through Negosyo Centers as a platform where they can market their products on-line.

At the same time, DTI will make Negosyo Centers accessible to clients of DOST and allow clients to display and dispatch their products with its payment and logistic partners in One Town One Product (OTOP) Philippines HubStores, subject to availability of space and to DTI priorities and promote oneSTore and provide signage for the spaces provided for oneSTore.ph and oneSTore hub in every OTOP Store identified as co-branded hub, among others.

The One Town, One Product (OTOP) Philippines is DTI’s collaborative program with national government agencies and local government units  as a customized intervention to level up the products of various localities and drive inclusive local economic growth.

DOST, on the other hand, will develop and maintain oneSTore.ph where its accredited Regional Hubs and MSMEs may sell products and services to its clients and engage with payment and logistics partners and provide better oneSTore.ph services to its accredited Regional Hubs, MSMEs and its partner agencies.

DOST will also Provide priority to jointly identified OTOP products for product development initiatives including improvements in packaging and labeling, subsidy or discounts in testing fees, equipment support such as the Small Enterprise Technology Upgrading Program (SETUP), and strengthen research and development efforts.

*This is Press Release