The Chairman of the Philippine Chamber of Commerce, Cai Congmiao, stated on the 30th that there are indeed many investment opportunities in the Philippines for Chinese enterprises, but it is crucial to "choose the right partners."
Cai Congmiao made these remarks during an exclusive interview with a reporter from China News Service at the top of a commercial building in Makati City, Metro Manila. To demonstrate that there are "really many" investment opportunities in the Philippines, he cited several successful cases of Chinese enterprises investing and operating in the Philippines, stating, "There are many projects to undertake, especially in industries such as power generation and mining, which are very profitable, but it is important that the partners are reliable."
He provided an example, saying that many foreign investors have invested significant amounts of money in the Philippines, but problems arise whenever there is a change in government. Some projects from Western companies such as France and Belgium have encountered similar issues. "If you have good partners, even with a change of regime, you can still continue to operate," he said.
Regarding the impression of Filipino entrepreneurs towards China, Cai Congmiao believes that most Filipino entrepreneurs have a very positive impression of China. "Anyone who has been to China will have a particularly good impression of it," he noted. Many Filipino entrepreneurs engaged in trade have requested the Chamber of Commerce to help them find sources in China, stating, "For them, China represents a great opportunity."
Cai Congmiao has previously served as the Chairman of the Federation of Filipino-Chinese Chambers of Commerce and Industry (the Federation) and in early 2010 transitioned to become the Chairman of the Philippine Chamber of Commerce, the largest and most influential business organization in the Philippines. It is reported that the Philippine Chamber of Commerce has over 30,000 small and medium-sized enterprise members, more than 1,600 large companies, and hundreds of business associations and industry groups.
Regarding the recently heated South China Sea issue, Cai Congmiao suggested treating the South China Sea as a "jointly developed economic zone," stating, "Arguing does not benefit anyone." Joint development and sharing of benefits would contribute to regional peace and development, and "this way, we will not be exploited by those with ulterior motives, causing unnecessary trouble." He believes that if peaceful development is prioritized, the so-called tensions will gradually ease in the long run.
