Philippines Immigration focus on Philippines Economic Cooperation: The "Think Global, Think Hong Kong" business seminar was held on the 24th in Manila, the capital of the Philippines. Hong Kong and the Philippines signed a statement of intent on investment promotion cooperation that day to establish a platform for information exchange on investment environments and opportunities in both regions, encouraging both sides to establish businesses or expand operations in each other's territories.
Gregory So, Secretary for Commerce and Economic Development of the Hong Kong Special Administrative Region Government, stated at the seminar that he encourages Philippine enterprises to utilize Hong Kong as an investment springboard or logistics hub to enter the markets of countries along the "Belt and Road" initiative.
Simon Galpin, Director-General of Investment Promotion at Invest Hong Kong, pointed out that under "One Country, Two Systems," Hong Kong enjoys a simple tax system and low tax rates, with the free flow of capital, talent, goods, and information. Hong Kong adheres to the principle of fair competition and possesses a sound legal system; these factors make Hong Kong an ideal platform for Philippine enterprises to enter the Mainland and Asian markets.