TAIPEI CITY, TAIWAN – Chairman and Resident Representative Angelito T. Banayo of the Manila Economic and Cultural Office emphasized the strengths and potentials of the present Philippine economic environment in the 2018 Industrial Collaboration Summit held in the Taipei Regent Hotel last November 29, 2018.

The 2018 Industrial Collaboration Summit is a gathering of Taiwanese businessmen organized by the Chinese National Federation of Industries (CNFI). The summit served as a venue for Philippine private industry association leaders to promote their products and establish networks with their Taiwanese counterparts.

Among these industry leaders are representatives of 18 Filipino startup businesses which were given the venue to showcase their goods. Two of these startups, namely, FAME (Futuristic Aviation and Maritime Enterprise, Inc.) and One Watt, have been gaining recognition among the startup exhibits hosted by Taiwan since the start of 2018.

“While Taiwan has the technology and the appropriate environment, the Philippines has the talent pool, innovation and the market, which, brought together, can bring our startups to greater heights in the world stage,” said Banayo in his opening remarks.

Banayo also stressed the complementarity between Taiwan’s New Southbound Policy and the Build Build Build program of the Duterte administration.

TECO Representative Michael Peiyung Hsu also praised the current vitality of the Philippine economy. He described the Philippines as a country needing opportunities in order to harness its economic assets.

“Do not ignore its potential market especially this country is a very important strategic partner in the south. I advise our businessmen, manufacturers and investors to seriously consider the Philippines as one of your investment destinations,” requested Hsu in front of Taiwanese businessmen attending the summit.

Present also during the event were academics who delivered keynote addresses about the degree of economic engagement between the Philippines and Taiwan. Dr. Fernando T. Aldaba, Dean of the Ateneo de Manila University’s School of Social Sciences, lectured about the implications of the current Philippine economic strategy to its interaction with Taiwanese investors.