On The Agenda
Chinese businessmen have proposed the development of a business district around Manila Bay, modeled after the successful Guangdong-Hong Kong-Macau Greater Bay Area. This initiative aims to strengthen economic ties and create opportunities in innovation, high technology, new energy, and sustainability for the Philippines, according to Philippine media reports this week.
Jonathan Choi Koon-shum, chairman of the Chinese General Chamber of Commerce-Hong Kong, suggested establishing a “Greater Bay Area of Cavite, Bataan, and Zambales,” with Manila Bay as its focal point. Speaking at the Manila Forum for Philippines-China Relations, Choi expressed the hope that the Philippines would create a similar GBA to stimulate growth in the region.
“This presents an exciting opportunity for the Philippines to leverage the GBA’s success and create a dynamic economic zone that fosters innovation, trade, and investment,” Choi said. He emphasized the potential for expanding trade, particularly in electronics and textiles, which align with the Philippines’ export strengths.
Raul Lambino, chairman of the Association for Philippines-China Understanding, highlighted the significant benefits the Philippines could gain from closer collaboration with China. He noted the potential for millions of Chinese tourists to visit the Philippines, boosting job creation and the economy. Before the pandemic, China was the top source of international travelers to the Philippines, with over 1.7 million visitors in 2019.
Lambino also pointed out that planned infrastructure projects, such as the Bataan, Cavite, and Manila Bridge, similar to the Hong Kong-Zhuhai-Macau Bridge, would further enhance connectivity and economic activity.
In 2023, China remained a top trading partner for the Philippines, with bilateral trade exceeding $40 billion. MDT
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