Traders urge PHL-China cooperation
THE FEDERATION of Filipino Chinese Chambers of Commerce and Industry, Inc. (FFCCCII) called for strengthened cooperation between the Philippines and China, urging the governments of both nations to set aside their differences amid brewing tensions over the South China Sea.
The key here is to set aside our differences,” FFCCCII President Cecilio K. Pedro told BusinessWorld on the sidelines of a briefing on Sunday. “Those that we cannot discuss, we cannot compromise, let’s not talk about that anymore. Let’s stay in the status quo. What we should talk about is what is possible, what we can do together.”
Mr. Pedro said the Philippines should focus on the country’s stability in order to attract more foreign investments.
“If we set aside the tension in the West Philippine Sea, several [investors] will come here. They’re afraid that a war might erupt due to the West Philippine Sea,” he said.
“There really is no need to go to war because the issue is small,” he added, citing how President Ferdinand R. Marcos Jr. is not interested in waging war. “China also said it’s not going to war,” said Mr. Pedro.
To navigate the geopolitical tensions between the Philippines and China, the FFCCCII said it focuses on easing doing business in the country.
“Our competitors are our neighboring countries. If it’s easier to apply in Vietnam, Indonesia, or Thailand, we lose. Companies would be looking at where there is ease of doing business. It should be easy, there should be a concerted effort to make everything easier for investors to come in and invest,” Mr. Pedro told BusinessWorld.
The FFCCCII is also focusing on promoting power generation, such as wind, solar, and hydro, to attract more investors from China.
Infrastructure, security and defense, and education should be among the top priorities of the government to gain more investors.
“Infrastructure is important because when you look at the traffic situation in the Philippines, it’s too much, right? If we focus on some of these [key points], investors will see we are serious about [attracting] investments,” he said.
The FFCCCII leaders visited Beijing and Xiamen upon the invitation of the Chinese Embassy in Manila to “enlighten [them] on what’s happening in China and how they can help [Philippine businesses].”
He added they’re in “constant communication with the Embassy” to look for opportunities for cooperation.
Mr. Pedro also called for the promotion of industries to boost employment for the country to move forward. He compared the country’s growth to neighboring countries of Indonesia and Vietnam, which have already edged the Philippines in terms of economic gains.
“The tension between the Philippines and China is up to the President. What do we want [to focus on]? Business or intentions? It isn’t possible to mesh those two together because we will be burdened due to our size. We’re smaller compared to China,” he added.
Last month, Philippine President Ferdinand R. Marcos, Jr. said we are “not poking the bear” and are instead focusing on “continuing dialogues.” — Chloe Mari A. Hufana
