MANILA – The Philippines is committed to attract Chinese investors in its renewable energy sector by highlighting the country’s “improved” regulatory environment.
In his speech during the recently concluded ASEAN-China Week held in Shanxi Province in China, Philippine Ambassador Jaime A. FlorCruz shared that the country has “improved its regulatory environment” to attract more foreign businesses.
He cited the Philippines’ National Renewable Energy Program has set its target to at least 35 percent Renewable Energy share in the power generation mix by 2030.
The Philippines hopes to increase that share to 50 percent by 2040, FlorCruz added.
Ambassador FlorCruz also presented the Philippines’ tourism destinations, and underscored the country’s achievements and global recognition, such as the World Travel Awards (from 2019 to 2023), and the Best Destination for Shore Diving in the 2022 Scuba Diving Readers’ Choice Awards.
Meantime, Special Envoy of the President to China for Trade, Investments and Tourism Mr. Benito Gosiaco Techico, together with Commercial Consul Glenn Peñaranda, presented other investment opportunities in the Philippines.
The ASEAN-China Week, with the theme “ASEAN-China Comprehensive Strategic Partnership: Achieving Prosperity through Innovation” was attended, among others, by government officials, diplomatic envoys and business leaders.
