PH, Hong Kong Firms Sign Cooperation Pact at Belt and Road Summit

Officials from (from left) hpa International Limited Nicholas Ho, IRC Properties Inc. Ren Youmin, The Red Group Limited Michael Ngai, and Kwan On Holdings Limited Tao Ming Tomy show off the signed Cooperation Agreement at a ceremony held on the sidelines of the Belt and Road Summit, organized by the Hong Kong Government and the Hong Kong Trade Development Council (HKTDC) at the Hong Kong Convention and Exhibition Centre (HKCEC) on 28 June 2018. The signing is witnessed by Philippine Consul in Hong Kong General Antonio A. Morales (rightmost), Finance Undersecretary Grace Karen Singson and Finance Assistant Secretary Paola Alvarez (third and fourth from left) and Hong Kong Trade Development Council Chair Vincent H S Lo. (Nicholas Ho photo)

HONG KONG 06 July 2018 – Philippine and Hong Kong companies signed a Cooperation Agreement on the sidelines of the Belt and Road Summit organized by the Hong Kong Government and the Hong Kong Trade Development Council (HKTDC), at the Hong Kong Convention and Exhibition Centre on 28 June 2018.

The agreement is a comprehensive project through the public-private partnership (PPP) scheme, and includes the rehabilitation management of the Pasig River, a metro rail system at the Makati Central Business District and, economic development in the Laguna de Bay area.

The signatories were hpa International Limited, The Red Group Limited and Kwan On Holdings Limited from Hong Kong, and IRC Properties Inc. from the Philippines.

The initiative is a milestone result of the HKTDC-led Hong Kong-Shanghai High Level Business Delegation to Manila on 22 to 24 April 2018, which Philippine Consul General in Hong Kong Antonio A. Morales participated in.

Foreign Affairs Secretary Alan Peter S. Cayetano delivered the keynote remarks during the HKTDC event in Manila, where he invited Hong Kong and Shanghai business leaders to invest in their friend and neighbor, the Philippines.

“We will ensure that our own business environment truly welcomes business activity. All these, alongside the anti-corruption efforts of the administration, comprise a very big part of our reforms,” Secretary Cayetano said in his April 2018 speech before the HKTDC.

Finance Undersecretary Grace Karen Singson, Finance Assistant Secretary Paola Alvarez, Consul General Morales, and HKTDC Chairman Vincent H S Lo witnessed the signing of the agreement. END

Consul General in Hong Kong Antonio A. Morales (fourth from left) pose with officials of the Hong Kong Trade Development Council (HKTDC), and officials from partner entities in the cooperation agreement namely The Red Group, IRC Properties Inc., Kwan On Holdings Limited and hpa International Limited at the signing ceremony held at the sidelines of the Belt and Road Summit. (Nicholas Ho photo)

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