On the Agenda
The Board of Investments (BoI) has emphasized the need for the Philippines to explore potential partnerships in technology and innovation with companies in Macau, Hong Kong, and Guangdong Province. At the Manila Forum for Philippines-China Relations, BoI Executive Director for Investment Promotions Services, Evariste M. Cagatan, highlighted the advanced industrial capabilities of these regions as a significant opportunity for collaboration, Business World has reported.
“There are clear opportunities for synergy in the areas of technology and innovation,” stated Cagatan during a panel discussion on Wednesday. She pointed to the Guangdong Greater Bay Area (GBA) as a cluster of cities around the Pearl River Delta, which China is developing for greater economic integration.
The GBA, comprising cities such as Guangzhou, Shenzhen, and Zhuhai, is recognized as a global hub for technological development. This positioning aligns well with the Philippines’ growing information technology and business process management sectors, which present “huge growth opportunities,” according to Cagatan, as cited in the report.
Moreover, Hong Kong’s role as a global financial center offers significant prospects for Philippine banks seeking international partnerships. In the realm of advanced manufacturing,
According to Business World, Cagatan suggested that the Philippines could benefit from partnering with Guangdong, a leader in global manufacturing during the outsourcing boom. “Integrating our capabilities in electronics and semiconductors with Guangdong’s high-tech industry could drive innovation and boost productivity,” she added.
Jeffrey Ng, Vice-President of the Federation of Filipino Chinese Chambers of Commerce and Industry, Inc., also underscored the potential benefits of importing Chinese electric vehicles (EVs) into the Philippines, especially amid trade restrictions from the US and Europe. “The GBA can significantly contribute to the Philippines’ development in the coming years,” he remarked in the report.MDT/Agencies
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