‘Do what you do best,’ Marcos exhorts Chinese-Filipino business group
A day after he effectively rejected Beijing’s warning on the country’s security and disaster relief agreement with the United States, President Ferdinand Marcos Jr. on Thursday lauded Chinese-Filipino businessmen and exhorted them to continue helping in Philippine economic development.
“I only ask that you continue to do what you do best: to remain industrious, innovative and compassionate in improving the lives of our people through your business initiatives,” the President told members of the Federation of the Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCCII) in Pasay City.
Marcos did not mention the Philippine-US Enhanced Defense Cooperation Agreement in his speech at the influential business group’s 33rd biennial convention, but he did point to agreements reached during his state visit to China in January.
The President said the Board of Investments is monitoring 90 active investment leads from Chinese companies engaged in manufacturing, information technology, business process management and renewable energy after his state visit.
“May you all take hold of and maximize these prospects as you venture into your next endeavors for the benefit of our people and for our communities,” the Chief Executive told the group’s members.
Marcos also thanked FFCCCII members for their role in nation-building since 1954, when the group was formed by longtime residents and immigrants from China and Taiwan after the Chinese Civil War ended in 1949.
The group, which has members supporting either Beijing or Taiwan, has become one of the most influential business groups in the country.
“We deeply appreciate your assistance in conducting medical missions and typhoon and earthquake relief operations,” the President told the group.
“As you conduct your biennial convention today, may you reaffirm your commitment to support the government in accelerating the country’s development efforts,” he added.
Marcos told the Chinese-Filipino businessmen that the government was already addressing the issues they raised during a meeting last September.
He said the government has amended the implementing rules of the Renewable Energy Act, which removes foreign ownership restrictions for certain renewable energy projects in the Philippines.