First is infrastructure construction. The Philippine government is eager to change the relatively underdeveloped state of infrastructure construction, and relying solely on limited self-raised funds and existing foreign loans is far from sufficient to meet the needs of new projects and the renovation of old projects. In recent years, the Philippines has turned its attention to cooperation with China, actively seeking preferential loans from the Chinese side to invest in some urgently needed large projects.
Second is agriculture. The Philippines is an agricultural country, but it cannot achieve self-sufficiency in food. The Philippine side is very optimistic about China's agricultural development experience, and both governments and leaders place great importance and concern on agricultural cooperation between the two countries. The yields of the main crops in the Philippines, rice and corn, are relatively low, and the advanced agricultural technology and high-yield crop varieties from Guangxi are widely welcomed by the Philippine agricultural community. There is great potential for cooperation in greenhouse technology, pollution-free vegetables, new variety development, and comprehensive utilization of biogas energy.
Third is the mining industry. Cooperative mining not only addresses the resource supply shortage for our mineral processing enterprises, providing reliable resource guarantees for national economic construction and sustainable development of the national economy, but also promotes the export of our electromechanical products and technology.
Fourth is fisheries. The Philippines has rich fishery resources and good aquaculture conditions. Guangxi, located in the northern Gulf region, has complementary advantages in port transportation and fishery cooperation with the Philippines, and the Philippine government encourages the development of fishing cooperation.
Fifth is coconut product development. The Philippines is one of the largest coconut producers in the world, with 25 million people directly or indirectly relying on coconuts for their livelihood. Currently, the Philippines only utilizes coconut meat, while coconut shells, coconut fibers, and coconut husks have not been well developed. China is in great need of these products through cooperation.
Sixth is forestry. The Philippines is very suitable for the development of fast-growing timber, with a large number of barren mountains and slopes suitable for timber development. China has a great demand for forestry products. The Philippines also has relatively favorable policies for forestry development, allowing foreign investors to export 70% of the products.
Seventh is tourism. The Philippines has abundant tourism resources, and the development of the tourism industry has very favorable conditions, presenting a good prospect for cooperative development.
There are also prospects for investment cooperation in information technology, electronics, automobiles, and mechanical components.
