Chinese bizmen urged to invest in PH renewable energy sector

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Ambassador Jaime FlorCruz encouraged Chinese investors to invest in the renewable energy sector in the Philippines during the recently concluded ASEAN-China Week.

The gathering was held in Shanxi province with the theme “Asean-China Comprehensive Strategic Partnership: Achieving Prosperity through Innovation”. It was attended by government officials, diplomatic envoys, and business leaders.

Ambassador FlorCruz said the Philippines has improved its regulatory environment to attract more foreign businesses.

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He cited that the Philippines’ National Renewable Energy Program sets a target of at least 35 percent renewable energy share in the power generation mix by 2030. He said the Philippines hopes to increase that share to 50 percent by 2040.

Along with Ambassador FlorCruz, Benito Gosiaco Techico, Special envoy of the President to China for trade, investments and tourism, and Commercial Consul Glenn Peñaranda presented opportunities in the Philippines.

On Tourism promotion, Ambassador FlorCruz highlighted tourism destinations in the Philippines.

He said the country has gained global recognition as Asia’s leading dive destination and the world’s leading dive destination by the World Travel Awards (from 2019 to 2023), and the best destination for shore diving in the 2022 Scuba Diving Readers’ Choice Awards.