A group of big businessmen is pushing for the Philippine Government to develop its own Greater Manila Bay Area like in Hongkong to speed up its progress and development.
The Federation of Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCCII) lead in advocating for the development of the Greater Manila Bay area, inspired by the success of China’s Guangdong-Hong Kong-Macao Greater Bay Area, as a strategy to attract more investments and advanced technologies to the Philippines.
At the Manila Forum for Philippines-China Relations held at the Conrad Hotel, FFCCCII President Cecilio K. Pedro said that Chinese Ambassador of Manila Huang Xilian proposed this initiative to Filipino Chinese businessmen. The proposed Greater Manila Bay area, encompassing the linkage between Bataan and Cavite, as well as Greater Manila and Bulacan, is seen as a prime location for economic development.
“Ambassador Huang Xilian saw the potential in linking up Bataan and Cavite with new infrastructures, and recognized the economic opportunities in the areas in between, including Greater Manila and Bulacan,” Pedro explained.
The FFCCCII believes that this proposal could serve as a catalyst for attracting more investments to the region. Pedro emphasized that the proposed Manila Greater Bay Area could establish a partnership and strengthen economic cooperation with the Guangdong-Hong Kong-Macao Greater Bay Area, fostering faster, sustainable, and high-tech economic growth for both regions.
The Guangdong-Hong Kong-Macao Greater Bay Area, consisting of Hong Kong, Macao, and nine cities in Guangdong province, including the technology hub Shenzhen, boasts a $1.98-trillion gross domestice product. This makes it one of the fastest-growing regions in China, surpassing the economies of South Korea and other nations.
As the Philippine government promotes the Luzon economic corridor with the support of the United States and Japan, Pedro said that developing the proposed Greater Manila Bay area could complement these efforts. “The more, the merrier,” he remarked, noting that attracting investments in various areas would help create more jobs in the Philippines.
The recent Manila Forum, which focused on enhancing economic cooperation between the Philippines and the Hong Kong-Macao-Guangdong Greater Bay Area, was jointly organized by the Chinese Embassy, FFCCCII led by Pedro, the Hong Kong Chinese General Chamber of Commerce led by Chairman Jonathan Choi Koon-shum, the Association for Philippines China Understanding (Apcu) led by Raul Lambino, and the Hong Kong Macau Guangdong Entrepreneurs Alliance.
