HK Business Seminar Puts Spotlight on Investment Opportunities in PH
Consul General to Hong Kong Antonio A. Morales delivers welcome remarks at the “Investing and Doing Business in the Philippines” Seminar organized by the Italian Chamber of Commerce in the Philippines Inc. on 13 September 2018 in Central, Hong Kong Island. (Hong Kong PCG photo)
HONG KONG 24 September 2018 – Top-level government officials reassured potential investors in Hong Kong that the Philippines under President Rodrigo Duterte is working “non-stop” to ensure that the necessary policies, fiscal measures and legal framework relating to ease of doing business and investments are in place.
Philippine Consul General to Hong Kong Antonio A. Morales highlighted the key reasons in choosing the Philippines as an investment destination during his welcome remarks at the “Investing and Doing Business in the Philippines” Seminar organized by the Italian Chamber of Commerce in the Philippines Inc., in Central, Hong Kong Island on 13 September 2018.
Around 90 members of the Hong Kong business community attended the event which featured Finance Secretary Benjamin Diokno and Philippine Economic Zone Authority (PEZA) Director General Charito Plaza as lead speakers.
From the private sector, ItalPinas Development Corporation CEO and Chairman Romolo Nati and former Philippine International Trading Corporation President and National Food Authority Administrator Atty. Anthony Abad were also among the resource speakers.
Consul General Morales highlighted that with its reputation as a leading financial and investment center, and a source of world-class professional services, Hong Kong is an excellent jump-off point for companies to explore trade and investment opportunities in the Philippines.
ICCPI Executive Director and moderator during the seminar Lorens Ziller highlighted the similarities between the Philippines and Italy, such as being predominantly Catholic countries, similar culture, character traits and even cuisine, which give Italians a sense of familiarity when they go to the Philippines.
During his presentation, Secretary Diokno said that the Philippines’ macroeconomic fundamentals remain solid, and is looking into a seven to eight percent growth in the medium term.
He emphasized that the country provides a conducive environment for investments, and is globally recognized for its achievement in fiscal openness, transparency and good governance initiatives, including the Ease of Doing Business Act signed by President Duterte in May 2018, making it the ideal investment hub in Southeast Asia.
“I urge the Italian business community to come to the country and join in the journey for a better, fairer, safer and richer Philippines,” Secretary Diokno said.
For her part, Director General Plaza presented the various incentives offered in setting up businesses in Philippine economic zones, including income tax holidays, special visas and a one-stop shop service free of graft and corruption She also said that the Filipino people are the country’s strength with a young, highly literate, IT competent and English speaking workforce.
ItalPinas CEO and Chairman Nati presented his company’s experience in doing business in the Philippines and success story in availing of PEZA’s incentives. ItalPinas’ main business is to develop green and affordable buildings outside Metro Manila, with its current project “Miramonti Green Residences” located in Sto. Tomas, Batangas.
To date, there are 448 EU companies in Philippine economic zones, including 14 Italian companies.
Atty. Abad on the other hand advised the business community to choose the right partner when investing in the Philippines. Similar to Chairman Nati, he stressed on the huge opportunity to spread businesses outside Metro Manila.
After the seminar, the attendees were able to have one-on-one discussions with the resource speakers on their best options on investing and doing business in the Philippines. END
Consul General Antonio A. Morales (leftmost) poses for a photo with (from left) Philippine Economic Zone Authority Director General Charito Plaza, Finance Secretary Benjamin Diokno and Italian Chamber of Commerce in the Philippines Inc. Executive Director Lorens Ziller at the “Investing and Doing Business in the Philippines” Seminar on 13 September 2018 in Central, Hong Kong Island. (Hong Kong PCG photo)
Around ninety members of the Hong Kong business community attended the “Investing and Doing Business in the Philippines” Seminar on 13 September 2018 in Central, Hong Kong Island, where Consul General to Hong Kong Antonio A. Morales gave his welcome remarks. (Hong Kong PCG photo)
For more information, visit www.hongkongpcg.dfa.gov.ph or https://www.facebook.com/PHLinHK/.