The visit of President Ferdinand Marcos Jr. to China is expected to generate potential investments in the agriculture, energy and mining sectors.
George T. Barcelon, president of the Philippine Chamber of Commerce and Industry (PCCI) who joined the business delegation of the President, said that the Department of Trade and Industry (DTI) has lined up three roundtable discussions on Thursday, Jan. 5.
The discussion will focus on three sectors – agriculture, power and mining.
Barcelon said that the President has about 40 members in his business entourage comprising of representatives from local companies, particularly from the mining and nickel sectors.
“From what I’ve heard there might be discussion on nickel refining venture but if there are memorandum of understanding to be signed, I am not privy to that,” he added.
There are also companies from the waste management and energy firms engaged in renewables, solar and wind companies with Chinese parties. In the agriculture sector, “We have companies engaged in fruits production and trading that are seeking to expand their market in China. We are a pretty good mix of sectors,” he added.
Barcelon said that the Philippines can hopefully capture the investments of some electronics and semiconductor firms that are moving out of China.
While there are business discussions during the trip, Barcelon said the President’s visit largely focused on political issues between the two countries on the territorial dispute in the West Philippine Sea. “I think we have a good start as we were warmly welcomed since last night,” he added.
He cited the statement from President Marcos as very positive. “I hope it will be a win-win discussion for both countries,” he said.