Deng Xiaoping’s famous quote: “It doesn’t matter if a cat is black or white so long as it catches mice” seems to be the object of Government economists as they welcome Chinese firms investing in electric vehicle assembly, telecoms and steel manufacturing projects in the Philippines.
MANILA — The Board of Investments (BOI) bares Filipino investors in China are coming back and reinvesting in the country.
“Like all countries, China’s committed investments are not all pushing through, but there are big-ticket Chinese projects that have come in,” says BOI Managing Head Ceferino S. Rodolfo.
Mr Rodolfo, who is also a trade and industry Undersecretary says a Chinese electric bicycle manufacturer together with a Filipino firm will set up a manufacturing facility in Bulacan for e-bikes for domestic and export markets.
He says the Chinese firm and its partner has already started importing e-bikes for the domestic market until they saw that Filipinos are capable to produce them locally.
A Chinese firm from Wuhan is also training Filipino workers as they plan to put up their hub in the Philippines for their telecom infrastructure projects in ASEAN and Asia Rodolfo says.
“A large part of it is because of our workers’ capabilities and also our fluency in English. So it’s very easy for them to go around Asia and implement their projects,” says the BOI official.
Aside from Chinese investments from the mainland, Rodolfo says some Filipino businessmen who expanded in China are coming back to re-invest in the Philippines. (JD/The MiNT)