The Philippines, guest country of honor of the 2020 CIFIT, sees the annual investment fair as part of efforts to reinvigorate its economy after COVID-19.

The country established a 400-square meter pavilion at the event to showcase its investment environment, major projects, and high-quality products, plans to organize a series of project matchmaking meetings and other activities, and set up an exhibition hall on the Online CIFIT, the virtual platform for CIFIT launched this year.

As the pandemic shows signs of improvement in the Philippines, the country plans to send a delegation of senior political officers and businessmen to hold roadshows in Chinese cities, according to John Paul Inigo from the Philippine Trade and Investment Center.

Philippines' Department of Trade and Industry (DTI) Secretary Ramon Lopez summarized the investment demands of the country in terms of manufacturing, saying that the country expects more investment in personal protective articles, electronic products, steel, chemicals, textiles, and garments.

The promotional conference for agricultural investment and cooperation between China and the Philippines was held during the 2020 CIFIT, and projects involving crop farming, aquaculture, agricultural product processing, and logistics hoped to attract investors.

“The Philippines and China have a long history of cultural and economic cooperation,” said Inigo, who believes that the two countries' trade and investment relations will continue to improve.

The country will continue serving as the CIFIT's guest country of honor next year.