Philippines eyes Zhangjiang Science City investment

Ti Gong

The Philippines is seeking opportunities to invest in Shanghai's Zhangjiang innovation hub, a forum held during the 4th China International Import Expo has heard.

Zhangjiang Science City, known as China's answer to Silicon Valley, has become a magnet for overseas investors. It has attracted more than 170 foreign-funded R&D centers, as well as many Nobel Prize winners and overseas academics. The Philippines is also drawn to the area.

At the Philippines Investment Forum held on Friday in Zhangjiang, the nation made it clear it wanted to invest in high-tech companies in the Zhangjiang Science City via venture capital funding and other ways to support its innovation development.

The forum was organized jointly by the Philippines Consulate General, Philippines Trade and Investment Center, Philippines Department of Tourism, in cooperation with the Zhangjiang Group.

According to the forum, infrastructure development, huge consumer base, and skilled and youthful population drives the thriving economy of the Philippines. It is staging a sustained, vibrant economic renaissance in the wake of the pandemic.