“With the support of President Duterte, SINOSUN is working hand in hand with Subic Bay Metropolitan Authority to develop the Subic Bay Special Economic Zone.”
The annual Manila Times Philippine Economic Outlook Forum was held in Davao, Philippines. In the 2017 annual forum, Philippine President Duterte, Chinese Ambassador to the Philippines Zhao Jianhua, Philippine Secretary of Finance Carlos G. Dominguez, PricewaterhouseCoopers Philippine Chairman and Senior Partner Alexander B. Cabrera, Philippine Director of the Asian Development Bank Richard Bolt, Senior Vice President of SM Group, one of the largest business groups in the Philippines Corazon Guidote, and Chairman of SINOSUN Capital Markets Group Dr. Samuel Lim, discussed the economic prospects of the Philippines, being broadcast on multiple television channels nationwide.
At the forum, the Philippine President Duterte was awarded the Manila Times "2016 Man of the Year Award." Among the guests that were present on stage to congratulate the president were the Chinese Ambassador to the Philippines Mr. Zhao Jianhua, Philippine Minister of Finance Carlos G. Dominguez, President of the Manila Times Mr. Dante Francis Ang, Chairman of the Manila Times Dr. Dante Ang and Chairman of SINOSUN Capital Markets Group Dr. Samuel Lim.
Philippine President Duterte said at the forum that with the help of the country’s good neighbor - China, the Philippines people will no longer have extreme poverty and even hunger. Together, both countries will fight against drug trafficking, and the abuse of drugs, to fundamentally improve the people's livelihood and promote the nation’s economy.
Chinese Ambassador to the Philippines Mr. Zhao Jianhua said that China is an outstanding partner of the Philippines, while the Silk Road economic zone and the 21st century shipping Silk Road will promote the Philippine economic development. 2017 will be the year of cooperation in tourism in Asia, where the Philippines will welcome more than 1 million Chinese tourist, said the Chinese ambassador to the Philippines, Mr. Zhao Jianhua.
Richard Bolt, Philippine director of the Asian Development Bank, said the Philippines is heading towards Ambisyon 2040, an ambitious vision to end poverty in the Philippines. With the support of China and other Asian countries, Philippines will be sure to attract more international investors to help develop the nation. PricewaterhouseCoopers Philippine Chairman and Senior Partner Attorney Alexander B. Cabrera also talked about the advantages of a better tax system and a more open land ownership will attract more Chinese investors coming into the Philippines.
SINOSUN Capital Markets Group Chairman Dr. Samuel Lim, said at the forum that the group is working closely with Subic Bay Metropolitan Authority (SBMA) Chairman Martin Diño, in exploring opportunities to develop Subic Bay Special Economic Zone, and got great support from President Duterte. SINOSUN Capital Markets Group is currently working closely with Philippine authorities to enhance the infrastructure, satellite infrastructure, to develop tourism, industrial development, international trade and international offshore financial center.
Manila Times 2017 Philippine Economic Outlook Forum anticipates a substantial increase in foreign direct investment from China, and that will continue to support the continued growth of the Philippine economy, which is likely to surpass Asian Development Bank (ADB)’s 2017 forecast of the Philippines’s gross domestic products (GDP) 6.2% growth. Chinese ambassador to the Philippines, Mr. Zhao Jianhua, also said that the Philippines will surpass China to become Asia's fastest growing economy.