Hong Kong and the Philippines signed a memorandum of intent today in Manila, pledging mutual co-operation on promoting investment exchanges and best practices.
The memorandum was signed by Director-General of Investment Promotion Simon Galpin and Industry Promotions Group Undersecretary Ponciano Manalo, Jr at the start of the Hong Kong: Where Business Goes to Grow seminar.
Secretary for Commerce & Economic Development Gregory So and Philippine Trade & Investment Centre ASEAN Team Leader Glenn Peñaranda witnessed the signing.
The document provides a platform for information exchange on investment environment and opportunities, and encourages, supports and facilitates mutual investment.
At the seminar, Mr So said the "Belt & Road" initiatives will generate demand and increase the volume and intensity of international trade and investment flow among countries on the routes, including the Philippines, as well as two-way traffic in and out of China.
"We encourage Filipino businesses to make use of Hong Kong as an investment springboard or a logistics hub when they venture into the markets of the "Belt & Road" countries," he added.
Mr Galpin also highlighted the opportunities Hong Kong has to offer Philippine companies looking to expand their business beyond the country.
"ASEAN is one of our target markets with growing potential. We welcome Filipino investors to leverage Hong Kong's enduring business advantages and its role as the super-connector between China and the rest of the business world," he said.
