PEZA slates promotional drive in Russia and China

Following the announcement to build more public economic zones around the country, the Philippine Economic Zone Authority (PEZA) is now gearing up to launch a massive promotional campaign in Russia and China.

This is the statement made by PEZA director general Charito Plaza, as the Philippines is gaining prominence as a preferred investment destination in this two economic powers.

Plaza is confident that if investors from Russia and China will be given the right information on the Philippines’ advantages including the attractive incentives offered by the economic zones, an influx of Russian and Chinese investments is thereby expected.

PEZA's aggressive campaign to attract investments in these countries complemented the active stance of the Cebu private sector to lure Russians and Chinese businesses to invest in the province.

The Mandaue Chamber of Commerce and Industry (MCCI) recently announced that it is going to re-visit its existing sister chamber agreements with Russia and China

MCCI has existing sisterhood agreements in different countries, but it has to prioritize to reinvigorate its partnership with Russia.

Part of this move is to align MCCI's programs with the thrust of the government in terms of capitalizing foreign markets, and attracting investors.

Soco said riding on with the strengthening of Russia and the Philippines’ trade partnership under the Duterte administration, MCCI will intensify its partnership programs with sister chambers in Russia.

MCCI has existing sisterhood agreements with business chambers in Vladimir and St. Petersburg in Russia, and Turkey.

Honorary consul of the Russian Federation Armi L. Garcia has been affirming Russians investors' interest to the Philippines and even encouraged Cebuano businesses to intensify their move to tap the big Russian consumers.

Garcia said that aside from fashion accessories, and furniture, food exports from the Philippines, especially from Cebu is gaining ground.

Meanwhile, the Cebu Chamber of Commerce and Industry (CCCI) already started its move to forge stronger linkages with Chinese investors.

Late last year, CCCI led by president Melanie Ng met with Consul General Shi Yong of the People's Republic of China.

Ng said that the meeting indicated a great start for the improvement of business relations between Chinese businesses and Cebuano traders.

"We agreed to continually communicate and be ready to engage in mutually beneficial economic and trade opportunities," Ng said.