PBBM China visit to create more jobs, boost forex earnings: DTI

President Ferdinand R. Marcos Jr. invites Chinese business leaders to explore investment opportunities in the Philippines, particularly in the areas of renewable energy, green minerals, battery/electric vehicle manufacturing and agribusiness. Office of the President

Pascual, who accompanied President Ferdinand R. Marcos Jr. during his meetings with Chinese chief executive officers in Beijing during the President’s state visit to China on January 3-5, said there is huge interest from Chinese business owners and investors to invest in the Philippines or expand their operations here.

“The immediate impact for Filipinos will be jobs because the importers would be buying products that are produced in the Philippines, and the companies that are producing them will have to rev up or increase their production,” Pascual said in an interview. The country’s foreign exchange earnings will also benefit from the increase in the export of agricultural products, Pascual said, pointing out that investments would mean remittances to the Philippines.Pascual noted that because China is the Philippines’ biggest trading partner, the country can avail of foreign trade agreement concessions, or preferential treatment with respect to tariffs.

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