Hong Kong – The Philippines through the Philippine Trade and Investment Center in Hong Kong SAR (PTIC – HK), the Philippine Consulate General and the Board of Investments of the Philippines participated in the 15th Asian Financial Forum (AFF 2022) jointly organised by the Hong Kong Special Administrative Region (SAR) government and Hong Kong Trade Development Council (HKTDC) on 10 and 11 January 2022. The AFF 2022 is one of the signature events in the celebration of the 25th anniversary of the establishment of Hong Kong SAR.
This year’s AFF had the topic, “Navigating the Next Normal Towards a Sustainable Future” and it gathered global business leaders, policymakers, financial experts, investors, entrepreneurs, technology giants, and economists who exchanged views on the key issues reshaping the ever-changing economic landscape and how the industry can achieve the goal of a sustainable future.
The Philippines was represented by Governor Benjamin E. Diokno of the Bangko Sentral ng Pilipinas (BSP). He was a speaker in the session: “Policy Dialogue – Policy Responses to Climate Change and Economic Recovery.” During his speech, he specifically quoted the serious effects caused by the typhoon Rai last December and emphasized the importance of collaboration between governments and private sectors to fight against climate change.
Other speakers in this session were Mr. Ashley Alder, Chairman of the Board of International Organization of Security Commissions and Chief Executive Office of Security and Futures Commision; Mr. Klaas Knot, Chair of Financial Stability Board and President of De Nederlandsche Bank; Ms. Teresa Ko, Corporate partner and China Chairman of Freshfields Brunkhaus Deringers and Co-vice chair of IFRS Foundation; and, Dr. Ma Jun, Co-Chair of G20 Sustainable Finance Working Group, Co-Chair of IPSF Taxonomy Working Group and Chairman and President of Hong Kong Green Finance Association.
Furthermore, Investment Promotion Agencies (IPAs) from the Philippines participated in the AFF namely: Aurora Pacific Economic Zone & Freeport Authority (APECO), Subic Bay Metropolitan Authority (SBMA), Clark International Airport Association (CIAC) and Bases Conversion & Development Authority (BCDA). SBMA and BCDA exhibited some projects and investment opportunities to investors from Hong Kong, China, and other foreign countries in the AFF Deal Flow platform.
Foreign companies set up meetings with SBMA to discuss their interest in the Subic Bay Freeport Zone specifically the Redondo Link Bridge which spans approximately 6.4 kilometers connecting the Subic Port District and the Redondo Peninsula; and, the Redondo Peninsula which is being envisioned to be developed into an industrial park, renewal energy, shipbuilding/repair, manufacturing, logistics/storage hub/facility. On the other hand, BCDA presented its projects such as New Clark City Mixed-Use Industrial Park, Solid Waste Management and Waste to Energy Project, Mixed-Used Industrial Park in Bataan Technology Park.
The Philippine is an archipelago that has become a destination for foreign companies interested to expand their business in Asia. For more information about possible investment locations, projects, and opportunities in the Philippines, please contact PTIC – HK thru: hongkong@dti.gov.ph.
