EMERGING provinces of China have expressed interests in putting up investments in the Philippines, particu-larly in industrial parks, garments manufacturing, trading and resort development in the country, said the Philippine consulate in Shanghai.

Philippine consul general to Shanghai Maria Rowena Mendoza Sanchez said at least 32 Chinese companies based in Zhejiang province attended the recent Philippine Trade, Investment and Tourism Forum in Hangz-hou city in Zhejiang province, China, to learn about business opportunities in the country.

“The ‘Go-Global’ policy of the Chinese government toward its companies and the varied business opportunities present in the Philippines are clear opportunities that both Chinese and Philippine businessmen should not pass up,” said Sanchez in her report to the Department of Foreign Affairs.

She said Chinese businessmen attending the forum have “indicated their interest in investing in industrial parks, garment manufacturing, trading and resort development in the Philippines.”

In her related visit to Wuxi province, Sanchez emphasized that business-to-business relations between companies engaged in information technology (IT) should be strengthened to “capitalize on each other’s strengths.”

She said the vice mayor of Wuxi is sending a delegation to the Philippines to learn more about the country’s outsourcing industry and to find complementarities.

Wuxi is also known as “Little Shanghai” because of its massive economic development, prosperous trade and commerce, said Sanchez.

She said Wuxi’s gross domestic product (GDP)  in 2007 reached $53 billion and its per capita GDP was $9,000. The city, which is about 1.5 hours away from Shanghai, is positioning itself as China’s next center for IT/IT-enabled industries.

At the trade and investments forum in Zhejiang, Filipino companies based in Shanghai presented their success stories in China and encouraged more business tieups with companies based in Zhejiang.

These firms include Liwayway (China) Co. Ltd., Figaro Coffee Co. and Dai-ichi Electronics Co. Ltd. Some representatives from the Bulacan provincial government and Bulacan Chamber of Commerce and Industry were also present during the forum.

At the same time, Sanchez visited the Alibaba heardquarters in Zhejiang province. Alibaba is one of the world’s premier e-commerce brands and top online marketplace for global and domestic trade.

She said Alibaba’s marketplace forms a community of more than 24 million users from over 200 countries and regions.

Sanchez has encouraged Alibaba’s head for International Business Development and Marketing Group to expand its market coverage to the Philippines since its services dovetails with the economic development goals of the small and medium enterprises  in the Philippines.

APART from putting money into the local farm sector, local agricultural producers also pushed for the need to ensure that their efforts to become competitive will not be threatened by the possibility of cheap and subsidized imports competing against their own produce.

PUBLICLY listed technology firm IPVG Corp. aims to increase its funds in a bid to buy more business-process outsourcing (BPO) companies this year, its deputy chairman told the BusinessMirror.

LOCAL sugar producers said  the Philippines is already self-sufficient in sugar as the industry is projected to produce 2.34 million metric tons (MMT) of the commodity for this crop year ending August 31.

EMERGING provinces of China have expressed interests in putting up investments in the Philippines, particu-larly in industrial parks, garments manufacturing, trading and resort development in the country, said the Philippine consulate in Shanghai.

COMING closer to fulfilling its commitment to bring in additional capacity in order to meet the growing demand in Subic Bay Freeport, Aboitiz Power Corp.’s (APC) subsidiary Redondo Peninsula Energy Inc. (Redondo Peninsula Energy) has recently issued a letter of award to Formosa Heavy Industries.

THE PLDT (Philippine Long Distance Telephone Co.) Group unveiled last week a wireless-security solution for business owners that will help them secure their facilities and prevent theft at a fraction of the traditional costs.

AFTER increasing the price of diesel, gasoline and kerosene by as much as P2.50 per liter in March, oil companies have again adjusted the pump price of petroleum products by 50 centavos to reflect the continuous surge of world oil prices.

DAVAO CITY—Business and conventions attracted many of the visitors here and the nearby provinces and outbound travelers have not become the monopoly of urban dwellers nowadays.