HONG KONG, 15 September 2024 — The Philippine Consulate General in Hong Kong promoted tourism, investment and retirement opportunities in the Philippines during its participation at the 9th Belt and Road Summit 2024 held from 11 to 12 September 2024 at the Hong Kong Convention and Exhibition Centre.
Under the theme of “Building a Connected, Innovative and Green Belt and Road,” the Summit attracted around 6,000 prominent individuals from 70 countries and regions. Hong Kong Chief Executive John Lee attended the Summit’s Opening Ceremony and delivered a keynote speech emphasizing Hong Kong’s pivotal role in achieving the goals of the Belt and Road Initiative (BRI), having both the “China advantage” and the “global advantage.” Chief Executive Lee stressed that the Summit has been recognized by Mainland China as a key global event for advancing economic, trade and investment cooperation activities with Belt and Road partners.
The Consulate’s booth invited Summit participants to “visit,” “invest” or “retire” in the Philippines. The booth gave away regional tourism brochures featuring the provinces of Subic and Northern Mindanao, under the “Love the Philippines” campaign. There were also materials containing information on investment opportunities at the Subic Bay Freeport, as well as other investment opportunities in the country under the “Make It Happen in the Philippines” banner of the Department of Trade and Industry (DTI). Foreign companies can also choose to expand their markets by participating in Philippine trade fairs organized by the Center for International Trade Expositions and Missions (CITEM). The Consulate also provided information on the Special Resident Retiree’s Visa (SRRV) that will allow retirees to settle for good in the Philippines.
The Philippine Veterans Investment Development Corporation Industrial Authority (PHIVIDEC-IA), which manages the PHIVIDEC Industrial Estate in Misamis Oriental Special Economic Zone (PIEMO-SEZ), likewise participated in the Summit as an exhibitor. The PIEMO-SEZ is a 3,000-hectare land that is strategically located adjacent to the gateway of Northern Mindanao, Cagayan de Oro City. It is considered as one of the biggest industrial estates in the Philippines. It currently offers an independent container port, the Mindanao Container Terminal (MCT), reliable power and water supplies, various fiscal incentives, and competitive land lease rates, among others.
PHIVIDEC-IA Administrator and Chief Executive Officer Atty. Joseph Donato J. Bernedo served as one of the Speakers for the Summit. Administrator Bernedo presented the available fiscal incentives and investment opportunities in Northern Mindanao.
Philippine Stock Exchange, Inc. Independent Director Mr. Andrew Gan, on the other hand, talked about the possible cooperation between the stock markets of the Philippines and Hong Kong, particularly in derivatives and sustainable investments.
Currently in its 9th year, the Belt and Road Summit was jointly organized by the Hong Kong Government and the Hong Kong Trade Development Council (HKTDC). Its aim was to gather different countries around the world to explore Belt and Road opportunities and share the latest developments related to the Initiative. It also featured various business plenaries, policy dialogues, deal makings and pitching sessions. END
