The Philippine government signed at least 10 business letters of intent (LoIs) from Chinese companies in Boao, Hainan Province, People’s Republic of China on Tuesday, April 10.

In a social media post, the Presidential Communications Operations Office (PCOO) said Department of Trade and Industry (DTI) Undersecretary Rowel S. Barba “signed the business letters of intent on behalf of the Philippines with the representatives of the following China companies – Shanghai GeoHarbour Group, Jovo Group Co. Ltd. Guangdong, Zhongfa Group, Haocheng Group, China Green Agriculture Group, East-Cloud Biz Travel Ltd., China National Heavy Machinery Corporation, Sinohydro Corporation Limited and Pan Pacific Renewable Power Phils. Corporation, Shanghai Shinehigh Biotechnology Ltd. Co. and Zheijiang Dongyang Jinxin Chemical Co. Ltd., and Sino BMG.”

The President, the PCOO also said, “witnessed the signing ceremony of the said LoIs after attending the opening ceremony of the Boao Forum for Asia (BFA) Annual Conference 2018.”

In his speech, Mr. Duterte said he “acknowledge(s) the job opportunities that will be created by Chinese investments now and in the years to come and their role in promoting inclusive growth, of encouraging entrepreneurship among the Filipinos.”

He added: “I stress the Philippine government’s commitment in bringing good governance and maintaining order to ensure an enabling environment which will allow businesses and investments to thrive and prosper.”

“Allow me to mention again the efforts to improve the climate of doing business, to promote ease of doing business and to show the goodwill and sincerity of my country vis-a-vis with our new relationship with China.”

The President also emphasized the Philippines government’s commitment to address corruption, that corruption will not be tolerated under his watch. – – Arjay L. Balinbin

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