Philippines will welcome more Chinese investments

This despite strained diplomatic ties.

Secretary of Trade and Industry Greg Domingo said the Philippines hopes to draw investment from more Chinese companies, and offers significant opportunities in infrastructure, telecommunications, agriculture and light industry.

He noted that the Philippines is becoming a bustling hub of trade and investment opportunities. He said the Philippines has much to offer, including opportunities in garment production, tourism, renewable energy, motor vehicle components and shipbuilding and repair.

Domingo was a guest at a recent roundtable discussion with Chinese businessmen in Nanning.

In 2012, China became the Philippines' third-largest trade partner. China is also the third-largest export market and second-largest source of imports.

Domingo said Philippine companies have invested more than US$2.5 billion in China. Investments by Chinese companies in the Philippines, however, remains low at less than US$1 billion.

"We are confident that the increasing exposure of China's businessmen to the Philippines through this roundtable, and through doing business in each other's country, will sow the seeds of a major increase in investments in the Philippines by Chinese companies," Domingo said.