in photo: DTI Secretary Ramon Lopez giving his message in a virtual meeting during the China International Fair for Investment and Trade (CIFIT) 2020 (Photo file)
The Philippines will once again join the China International Fair for Investment and Trade (CIFIT) 2021 as Guest Country of Honor from 08-11 September 2021 in Xiamen, China.
“For the second year in a row, the Philippines is once again given the distinct recognition as CIFIT’s Guest Country of Honour in 2021 to showcase the best of our country as a leading investment destination,” Trade Secretary Ramon M. Lopez said in a video message. “This recognition is not surprising, given that the Philippines and China share a long and rich history steeped in both culture and trade.”
CIFIT is China’s only international investment promotion event aimed at facilitating bilateral investment and the largest global investment approved by the Global Association of the Exhibition Industry. With the theme “Introducing FDI” and “Going Global”, CIFIT 2021 focuses on domestic and international opportunities for trade and investment promotion and cooperation.
In 2020, the Philippines organized a national pavilion to showcase the investment and trade opportunities in the Philippines. With the theme “Partner Philippines”, the Pavilion highlighted the inherent capability of the Philippines to adapt to the rapid changes in the global business landscape and emphasized the advantages of partnering with Filipino businesses across all sectors.
Last year, a total of fourteen (14) private and public entities from the Philippines participated as exhibitors in CIFIT, namely five (5) Investment Promotion Agencies (IPAs) : Bases Conversion and Development Authority (BCDA); Authority of the Freeport Area of Bataan (AFAB); Zamboanga City Special Economic Zone Authority (ZAMBOEZONE); Board of Investments (BOI); and the Philippine Economic Zone Authority (PEZA). They were joined by seven representatives from the private sector, namely Science Park of the Philippines, Inc.; BDO Unibank, Inc; The Philippine Silk Road International Chamber of Commerce; Philippine Chamber of Commerce and Industry; Filipino-Chinese General Chamber of Commerce; MegaWorld International; and AboitizLand. Lastly, Davao City Investments Promotions Center and the Department of Agriculture – Office of Agricultural Counsellor in Beijing (DA-OAC) participated as exhibitors.
During CIFIT 2020, the exhibitors highlighted 64 projects worth PHP53.4 billion in five key sectors, namely: Agricultural and Agro Processing; Tourism/Tourism Zone Development/Tourism Related Projects; Infrastructure/Logistics; Energy; and Real Estate.
A notable project that materialized during CIFIT 2020 was the development of the residential and commercial building Asia Plaza in the Manila Bay Area which had its groundbreaking ceremony on June 2021. The USD77 million real estate project is expected to generate at least 200 in local employment.
This year, the Philippine participation to CIFIT 2021 is anchored on the Make It Happen in the Philippines investment promotion campaign and focus on seven (7) key sectors,: Manufacturing; Hyperscalers; Innovation and Digital Technologies; Agri-business; Real Estate Development; Renewable Energy; and, Infrastructure. The campaign is based on the Make It Happen attitude of the hardworking and adaptive Filipino workforce that make the country an attractive investment destination not just in the region, but around the world. “More than offering a one-stop-shopping service for multilateral investment cooperation, CIFIT will help you to select from the widest range of investment projects and business partners from around the world,” Lopez added.
Learn more about the Philippine participation to CIFIT 2021 by visiting our microsite at https://philippines.business/cifit-2021/. You may also get in touch with the Philippine Trade and Investment Centers in China or the Board of Investments in the Philippines to learn more about CIFIT 2021.