Golden Coast Hotel, Boao, China
April 10, 2018

President Rodrigo Roa Duterte witnessed the signing ceremony of several business letters of intent (LOIs) after attending the opening ceremony of the Boao Forum for Asia (BFA) Annual Conference 2018 in Boao, Hainan Province, People’s Republic of China.

Department of Trade and Industry (DTI) Undersecretary Rowel Barba signed the business letters of intent on behalf of the Philippines with the representatives of the following China companies – Shanghai GeoHarbour Group, Jovo Group Co. Ltd. Guangdong, Zhongfa Group, Haocheng Group, China Green Agriculture Group, East-Cloud Biz Travel Ltd., China National Heavy Machinery Corporation, Sinohydro Corporation Limited and Pan Pacific Renewable Power Phils. Corporation, Shanghai Shinehigh Biotechnology Ltd. Co. and Zheijiang Dongyang Jinxin Chemical Co. Ltd., and Sino BMG.

In his speech after the signing ceremony, President Duterte expressed his appreciation to the Chinese investors, saying, “Filipinos welcome foreign responsible investments” and that the Philippines welcomes the growing trade relations with China as it results to job creation in the country.

At the same time, the President conveyed his hopes for a more robust and balanced trade between the two countries focusing on agriculture, infrastructure, energy, industrial, manufacturing and tourism, to name a few.

He reiterated his commitment to address corruption in the Philippines, stressing that he will not tolerate such acts committed by government officials.

The President was joined in the event by his daughter and Davao City Mayor Sara Duterte-Carpio, Special Assistant to the President Christopher ‘Bong’ Go, and several of his Cabinet members.

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