Phl-Shanxi business federation organized

More investments are seen coming from China with the establishment of the Philippine-Shanxi Federation of Industry and Commerce (PSFIC) that will put up a formal office in the country, officials said.

Shanxi is a province in northern China whose main industries are coal, coke, metallurgy, telecommunications and computer equipment manufacturing.

The launching of the PSFIC was held last May 3 at the Tower Club in Makati City.

Wang Shaogang, chairman of the PSFIC, said until recently Shanxi has kept a low profile in spite of the steadily growing industries in its territory.

The province is now taking steps in promoting its resources – a fast growing infrastructure, competent labor and supportive government – to businesses outside its borders, Wang noted.

He said the establishment of the PSFIC would have “a great positive impact in the Philippines’ pursuit of robust economic growth.”

Also present during the launching were Wu Shaozhong of the China Council for the Promotion of International Trade, Shanxi Provincial Committee Representative Office; Jiao Huisheng, vice president of the committee; Cagayan Economic Zone Authority Director Raul Lambino; Trade and Industry Assistant Secretaries Felicitas Agoncillo-Reyes and Ameenah Fajardo; Energy Undersecretary Benito Ranque; and Maria Eva Kalaw, host of the event. –