- President Rodrigo Duterte has often been criticized for his lack of economic plan
- However, in his upcoming visit to China, it seems that the President is shocking people as he is attracting 400 businessmen and entrepreneurs to have talks with China
- Duterte hopes to fix strained relationship with China and open doors of economic opportunities
As President Rodrigo Duterte is set to visit China, a massive group of businessmen and entrepreneurs are set to follow in hopes to create better business relations with China.
Initially, only about 20 Filipino businessmen were scheduled to go with the President. But the number has exponentially increased since then, according to Trade Undersecretary Nora Terrado.
According to the chair emeritus of the Philippine Chamber of Commerce and Industry Francis Chua, Duterte's state visit seeks to reawaken and fix trade and investment ties with china after a period of tension over the South China Sea.
"We expect to have a bounty of business opportunities from this visit, especially with a President willing to explore the limits of a fruitful partnership with China," Chua said.
Business giants Ramon S. Ang of the San Miguel group, Manuel V. Pangilinan of Metro Pacific and PLDT Inc., Lucio Tan and son Michael Tan of the Lucio Tan group, Hans Sy of the SM group, Carlos Chan of the Oishi group, Alfredo Yao of the Zest-O group and Henry Lim Bon Liong of the Sterling Group of companies are among those that are set to join the President in China.
Several businessmen have expressed their support for a better China-Philippines relationship, stating that a better cooperation between the two nations would lead to greater business.
According to SM Invetments Corp investor relations chief Cora Guidote, “China has always been open to partnering with the Philippines. In fact, here in the Philippines, we have a lot of Chinese suppliers and tenants. It’s just a matter of continuing to harness these relationships."
President Duterte hopes that a new era of better relations will bring more business to the Philippines.