Traders gear up for Sino investors

BUSINESS groups in Cebu are preparing for the possible influx of Chinese investments as Chinese investors are starting to explore investment prospects here.

“We are highly encouraged to work closely with possible Chinese investors as they come to Cebu to explore possibilities in light of the close engagement we have with the office of the Chinese Consul General Shi Yong and his economic team,” said Melanie Ng, Cebu Chamber of Commerce and Industry (CCCI) president, in a text message to Cebu Daily News.

Ng was referring to CCCI’s move on the start of visits of Chinese investors in Cebu.

Ng said they would soon start an engagement with the Bank of China (BOC), considered as China’s most internationalized and diversified bank, as it brings business matching services to the Philippines.

BOC, in a roadshow in Cebu last month, announced that it would host cross-border trade and investment conferences in Manila by March 2017.

Ng said the group is keen on helping identify as well as providing opportunities for its members and small to medium-scale enterprises in Cebu to link with business counterparts in China.

Glenn Soco, Mandaue Chamber of Commerce and Industry president (MCCI), said the MCCI would also actively prepare and participate in the government’s and private sector’s initiatives in promoting stronger trade relations with China.

“We need to help our member companies become competitive by introducing new ideas and strategies in doing business through our Business Summit, encourage them to strengthen the protection of their intellectual property rights and actively participate with entities like Bank of China for business matching opportunities,” Soco said.