PH Seeks Help From China, Agriculture Sector Boost
PH Seeks Help from China – The Philippines now seeks the help from China to boost the agriculture business sector in the country as part of the rural development agenda by the Duterte administration.
In a report by PhilStar, Felicita Agoncillo-Reyes, Board of Investments assistant secretary of the investment promotions group, said that the boosting of the agribusiness industry of the country is a priority of the Duterte administration’s agenda during the 13th China-ASEAN Expo (CAEXPO) and China-ASEAN Business and Investment Summit (CABIS).
According to Reyes, the kind of investments needed by the country were already qualified and Reyes mentioned that they are looking for investments that will benefit more people.
“Agribusiness is number one because that’s the one that has been left behind. Manufacturing is growing but agriculture remains small. So the challenge is to make agribusiness grow,” she added.
The report added that the country was working to strengthen the trade and investment ties with China and the CAEXPO and CABIS become great platforms to reach its goal.
Reyes added that the time is perfect to improve the bilateral ties between the two countries as the relationship between China and the Philippines is warmer after the ASEAN Summit in Laos.
“Every year we tell them that there are investment opportunities for China in the Philippines. We tell them what kind of investments we need. That started slowly but now, especially after the visit of President Duterte in Laos wherein there is the signaling of the warming of our relationship with China, we are very positive that China being our second [largest] investor can even invest more considering that we are neighbors and friends,” said the trade official.
Reyes said that there are many opportunities that have been missed before but, could be attained by the country now. She added that there is a chance to look and “take advantage” of the opportunities as they are for the good of the people.