From left: China ASEAN Investment Cooperation Fund CEO Dr. Li Yao, Zamboanga Economic Zone Administrator Chritopher Arnuco.
PTIC Beijing facilitated the signing of a memorandum of understanding (MOU) between members Investment Promotion Agencies (IPAs) and China-ASEAN Capital Advisory Company Limited (CACA) the investment advisory body to the China-ASEAN Investment Cooperation Fund (CAF) which is an offshore private equity fund approved by the National Development and Reform Commission of the People’s Republic of China (PRC) that targets investment opportunities in infrastructure, energy and natural resources in the ASEAN region and provides capital support that adds value to preeminent Chinese and ASEAN enterprises.
The said MOU was signed during the 11th China ASEAN Expo in Nanning on 17 September 2014. Based on the principle of equality, mutual benefit and cooperation, the Parties support and re-affirm the existing strong investment promotion cooperation between the Republic of the Philippines and the People’s Republic of China stipulated in the ASEAN-China Framework Agreement on Comprehensive Economic Cooperation (ACFACEC). Moreover, the Parties intend to promote a transparent, liberal and facilitative investment regime to deepen bilateral economic development.
Parties also agree to undertake the following actions:
- Promote mutual investment opportunities by facilitating resources sharing and mutual understanding among IPAs and CACA.
- Promote inbound and outbound missions among the parties to further strengthen appreciation of actual business and industry conditions to enable speedy facilitation of potential investment projects;
- Facilitate the establishment of effective platforms for cooperation and expand channels of resources sharing to enable, support and complement the enterprises of both Parties;
- Facilitate the participation of institutions of higher education, research & development institutions and science & technology companies through investment facilitation events, forum and exhibitions;
- Further facilitate the elimination of obstacles which may affect the deepening bilateral investment cooperation through industrial linkages by identifying the barriers and finding out ways of managing or overcoming such barriers.