THE Board of Investments (BoI) said it and HSBC Group unit HSBC Philippines have pitched potential Chinese investors on Philippine “green” technology projects.
In a statement on Monday, the BoI said it delivered a presentation on Philippine initiatives to promote sustainability in a webinar involving Chinese companies.
The BoI extended an invitation to Chinese firms to invest in renewable energy, electric vehicles, and green metal processing.
“The government is working closely with industry partners to deliberately build an ecosystem that would enable businesses to not only remain viable but also achieve their sustainable goals. Investments are therefore promoted across the supply chain,” BoI Executive Director for Industry Development Services Ma. Corazon Halili-Dichosa said.
HSBC Philippines Chief Executive Officer Sandeep Uppal said the Philippines’ competitive advantage is its growing economy, population, and economic reforms.
“Having been in the country since 1875, HSBC Philippines officials have witnessed enormous, world-class opportunities existing in the Philippines compared to when they started,” Mr. Uppal said.
BoI Executive Director for investment promotion services Evariste M. Cagatan also noted the government’s efforts to create a business-friendly climate and incentives available to investors.
Citing Bloomberg’s New Energy Finance Climatescope 2023, Ms. Cagatan said that the Philippines was among the top four emerging markets for renewable energy.
“(This is) mainly due to our green energy auctions, feed-in-tariffs, net metering schemes, and tax incentives,” Ms. Cagatan added. — Justine Irish D. Tabile
