By Bernie C. Magkilat
Bank of China is searching for 500 Filipino MSMEs (micro, small and medium enterprises) that could be granted financing, technology and marketing assistance under its $3-billion program to develop and promote Philippine enterprises.
Francis Chua, chairman emeritus of the Philippine Chamber of Commerce and Industry (PCCI), said the Chinese bank will hold an MSME forum on March 21 at the SMX Convention Center. The SME Forum is organized in cooperation with PCCI, International Chamber of Commerce of the Philippines (ICCP), Department of Trade and Industry and Silkroad International Philippines.
The MSME Forum targets to gather 1,000 enterprises, 800 of which are Filipinos and 200 Chinese firms for business matching.
From this pool of MSME participants will be chosen 500 Filipino enterprises eligible for financing, said Chua who is also founding chairman of ICCP and Silkroad International Philippines, the local affiliate of China International Silkroad.
Under the process, a Filipino MSME will have to submit their single proprietorship DTI registration. Part of the requirement is for the enterprise to submit a short company profile, which should include a request of the enterprise for technology, marketing and capital so it can expand and grow the operation.
Chua said that a similar SME Forum may also be held in Cebu in September this year.
The $3-billion China Bank financing is part of the $24-billion commitment of China to the Philippines during the state visit of President Duterte to Beijing last year.
The SME Forum in March in Manila will be preceded by a big Chinese business mission headed by the Chinese Trade Minister, who is expected to visit the country this month.
Chua said that more Chinese businessmen are doing business in the country. For one, he said, Chinese agri businessmen already committed to buy “all the fruits of Philippines.”
“Lots of Chinese firms are coming to buy real estate assets,” he added.