Representatives from the Hong Kong business sector attend the Hong Kong Productivity Council’s (HKPC) “Expanding Your Business Operations to the Philippines” Seminar on 4 April 2019 at SME One. (HKPC photo)

Hong Kong – The Philippines is seen as a potential manufacturing hub for Hong Kong businesses, especially in the manufacturing industry, during the “Expanding Your Business Operations to the Philippines” Seminar organized by the Hong Kong Productivity Council (HKPC) for the local business sector at SME One.

In his welcome remarks, HKPC General Manager for Smart Manufacturing and Mainland Business Jeffrey Sit emphasized that the Philippines is a market full of opportunities, and an excellent place to invest in.

Philippine Acting Head of Post Germinia V. Aguilar-Usudan (4th from left) with (from left) Mr. Frank Co Kin Hung, President of the Hong Kong Chamber of Commerce in the Philippines; Mr. Raymond Fong, General Manager of Environmental Management Division of the Hong Kong Productivity Council (HKPC); Dr. Lily Lim, PhD, Philippine Economic Zone Authority (PEZA) Special Advisor for China and Taiwan; Atty. Maria Lourdes P. Lim, Managing Partner of PwC Philippines-Isla Lipana & Co; Mr. Jeson S. Kiokan, investor of AyalaLand’s Laguna Technopark Inc.; PEZA Director General Charito B. Plaza; HKPC Official; Mr. Johnson Chong Fong Ngai, Deputy General Manager of Bank of China’s Commercial Banking Department; Mr. Don D. Capistrano, Head of Commercial Banking of Bank of China-Manila Branch; Mr. Jeffrey Sit, HKPC General Manager for Smart Manufacturing and Mainland Business; and Mr. Simon Li Lap Man, Head of Business of Bank of China’s Commercial Banking Department, during HKPC’s “Expanding Your Business Operations to the Philippines” Seminar on 4 April 2019 at SME One. (Hong Kong PCG photo)

“Our country’s solid macroeconomic fundamentals which resulted in a 6.2 percent GDP growth in 2018, its young, highly educated and predominantly English-speaking population, and strategic location make the country the best location to move your manufacturing hub,” highlighted Acting Head of Post Germinia V. Aguilar-Usudan during her talk on the latest economic developments and business opportunities in the Philippines.

Acting Head of Post Aguilar-Usudan also noted that President Rodrigo R. Duterte’s massive “Build, Build, Build” infrastructure program and the current investment priorities are two of the country’s major economic drivers.

The Seminar also featured Philippine Economic Zone Authority (PEZA) Director General Charito B. Plaza as special guest speaker, who presented on the incentives and various business opportunities in the Philippines’ close to 400 economic zones. She also promoted the development of tourism-based and environmentally-friendly economic zones.

Other speakers were Hong Kong Chamber of Commerce in the Philippines President Frank Co Kin Hung, who called on his fellow Hong Kong businessmen to invest in industries in the Philippines; and AyalaLand’s Laguna Technopark Inc. investor Jeson S. Kiokan, who discussed the advantages of setting up industrial manufacturing in the Philippines.

Bank of China-Manila Head of Commercial Banking Don D. Capistrano, and PwC Philippines-Isla Lipana & Co Managing Partner Atty. Maria Lourdes P. Lim, respectively presented the banking perspective in investing in the Philippines and the tax opportunities and challenges, including the Philippines’ Tax Reform for Acceleration and Inclusion (TRAIN) law.

HKPC also provided an introduction of its support services including the “Branding, Upgrading and Domestic Sales” (BUD) Fund which Hong Kong companies can apply for, including business expansion to ASEAN countries.

The “Expanding Your Business Operations to the Philippines” Seminar is part of HKPC’s ASEAN series in partnership with Bank of China, which also previously featured Thailand, Vietnam and Malaysia.

The Council was established in 1967 as a statutory body and governed by the HKPC Ordinance, to provide services to upgrade the manufacturing capacity of companies, including technological development, environmental compliance and management systems.


For more information, visit www.hongkongpcg.dfa.gov.ph or
https://www.facebook.com/PHLinHK/.

Balikbayan Media Center
Balikbayan Media Center

Balikbayan Magazine's Media Center serves an audience in 60 countries and 101 cities throughout the World to ignite, drive, and fuel the economic development, progression, and modernisation of the Philippines. Our Media Center curates only the most critical, vital, useful, entertaining, and sometimes amusing information released from both the public and private sector. Our editorial team strongly believes that a well-rounded and well-informed society is a thriving society.

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