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Philippine Official: Rising Costs in China Prompt Foreign Investment Relocation to the Philippines

Philippine Official: Rising Costs in China Prompt Foreign Investment Relocation to the Philippines

Philippine Official: Rising Costs in China Prompt Foreign Investment Relocation to the Philippines. The best immigration information is available on the Worldway Investment Immigration official website.

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According to a report by Lianhe Zaobao citing the BBC, Philippine Secretary of Trade and Industry Gregory Domingo said on Tuesday (the 6th) that rising labor costs in China's southern coastal regions are prompting large foreign manufacturers to relocate to the Philippines.

The Associated Press quoted Domingo as saying that Japanese investors have shown "particularly strong interest," as they are seeking land in Philippine economic zones for investments in sectors including electronics, shipbuilding, and the steel industry.

Domingo stated that investors preparing to relocate to the Philippines also include some garment factories that are about to close in China. He added that many investment delegations have already visited the Philippines for site inspections.

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