Hong Kong-Shanghai Joint Mission Investment Held in Manila

32 Hong Kong and 10 Shanghai business leaders and services providers gathered together in the recently held 3-day mission investment held in Manila, hosted by Hong Kong Trade Development Council (HKTDC) in association with the Shanghai Federation of Industry and Commerce.

The objective of the said mission investment is to explore the Philippines for business opportunities between China and the Philippines. Investment in infrastructure, including roads, energy, has become one of the key areas for mainland enterprises exploring Belt and Road opportunities.

HKTDC ‘Hong Kong and Shanghai: Your Investment Partners‘ organized by Hong Kong Trade Development Council (HKTDC).

The group consists of representatives from a wide range of industries including consultancy, architecture, energy, waste and water treatment, engineering and construction, legal and accounting, transportation and other sectors.

Department of Foreign Affairs Secretary Cayetano was one of the speakers. The delegation met with local government officials, agencies and business leaders.

Belt and Road Initiative

The Belt and Road Initiative was highlighted to promote connectivity and economic cooperation among countries along the Belt and Road routes to further market integration in the region including the Philippines.

HKTDC Chairman Vincent HS Lo highlights the Belt and Road Initiative in bringing real opportunities and benefits to the Philippines and around the region.

HKTDC Chairman Vincent HS Lo

At the luncheon, Hong Kong‘s unique advantages as a facilitator for infrastructure development and doing business with the Chinese mainland and the rest of the world were promoted. These advantages include the city’s international network, rich talent pool, sound financial system, fair legal structure and efficient infrastructure.

“Our economic, trade and cultural ties are closer than ever with the growing outreach and exchange, such as our mission. Offering a combination of capital, professional expertise and production capability from Hong Kong and Shanghai, we hope to collaborate with partners in the Philippines to turn investment opportunities into bankable ventures,” shares HKTDC Chairman Vincent HS Lo, referring to the Belt and Road Initiative in bringing real opportunities and benefits to the Philippines and around the region.

Build, Build, Build!

I think the summit came in time as Philippine President Rodrigo Duterte just came from China early April bringing home around US$9 billion worth of investment portfolio. During our interview with HKTDC Chairman Vincent HS Lo said ‘Build, Build, Build!‘ complements Belt and Road Initiative.

Under the “Build, Build, Build” initiative, the Philippine president has made infrastructure development a top socio-economic development priority. Topping the list of mega infrastructure projects amount to US$160 billion. Infrastructure spending is ambitiously targeted to expand to 7% by 2019. Infrastructure investment is expected to be a major economic driver over the next few years. The Belt and Road Initiative can provide the much-needed infrastructure financing to partner countries.

Belt and Road Initiative Hong Kong and Shanghai: Your Investment Partners Luncheon

Over the same period, Hong Kong imports from the Philippines increased by 27.6% year-on-year to US$9.8 billion. Major import items were semi-conductors, electronic valves and tubes (US$6.8 billion, 69.7%), computers (US$604 million, 6.2%), and telecom equipment and parts (US$458 million, 4.7%).

Co-Mission Leader Dr Jonathan Choi, Chairman of the Hong Kong Chinese General Chamber of Commerce and Chairman of Sunwah Group aptly summarized the mission of the summit in a statement at the luncheon through the following;

Co-Mission Leader Dr Jonathan Choi

“The delegation is impressed by the prospects of upcoming projects in the country. Apart from capital needs, we also see high demand for total solutions for infrastructure development. In our delegation there are representatives of a wide range of services providers, from architectural and engineering, construction, information technology, project management and operation to legal and risk managements. They are ready to contribute their expertise to the planned development projects.”

Jonathan Choi
Dr Jonathan Choi, Co-Mission Leader and Chairman of the Hong Kong Chinese General Chamber of Commerce and Chairman of Sunwah Group

Congratulations to the Hong Kong Trade Development Council (HKTDC), in association with the Shanghai Federation of Industry and Commerce, for a successful 3-day forum “Hong Kong and Shanghai: Your Investment Partner” Philippines Belt and Road Initiative!