Beijing: Philippine Ambassador to China Jaime FlorCruz has introduced the Philippines as a major center of economic services market in Asia. In his speech during the recent Philippine Country Forum at the 2025 China International Fair for Trade in Services (CIFTIS) in Beijing, FlorCruz urged Chinese investors, innovators, and business owners to choose the Philippines as the destination for their next projects.

According to Philippines News Agency, FlorCruz emphasized the Philippines’ position as a strong and stable country and a global center of competitive services in Asia. He welcomed China, the Philippines’ largest trading partner, to collaborate in high-growth services and industries. This year marks 50 years of formal diplomatic relations between the Philippines and China, although trade and cultural exchanges have spanned over a thousand years.

FlorCruz highlighted ongoing improvements in the Philippines’ business-friendly climate, enhanced by the Corporate Recovery and Tax Incentives for Enterprises Act. This law reduces corporate income tax and offers clearer, more focused incentives for businesses. The aim is to make the Philippines a more attractive business destination, aid in the recovery of companies, and strengthen the country’s regional competitiveness.

The ambassador also cited the success of FiberHome, a Chinese networking and telecommunication equipment provider, as a testament to the progress achievable through investment in the Philippines. He invited Chinese businessmen to visit the Philippine Pavilion to explore future cooperation opportunities, combining China’s cutting-edge technology with Filipino excellence in services.

FlorCruz concluded by emphasizing collaboration, equality, and inclusiveness as keys to development, drawing parallels to China’s transformation of the former Shougang Steel Plant through innovation and creativity.