DTI on China laser-pointing: Geopolitics, business can't be separated
The Department of Trade and Industry (DTI) said Saturday that Chinese investments and trade with the Philippines had continued amid the territorial tensions between both countries.
In a statement, DTI said that business and geopolitics or countries' political relations could not be separated.
"A lot of Chinese investments would be... from state trading corporations and companies," said DTI Foreign Trade Service Officer in Charge Vichael Angelo Roaring in Mav Gonzales' Saturday 24 Oras Weekend report.
"These are the results po of actual studies and economic opportunities. Chinese investments and trade with the Philippines went on amidst the so-called tension," added Roaring.
The DTI also believed that the two investment sectors China was interested in were far removed from issues in the West Philippine Sea.
"Manufacturing and agri-business, these are, parang, basic industries that we would want to grow," the DTI added.
During President Ferdinand "Bongbong" Marcos' state visit to China last month, a P22.8 billion investment pledge was obtained, including e-vehicle investments that will support the country's e-jeepney programs.
The Philippines recently protested China’s use of lasers on the Philippine Coast Guard in the Ayungin Shoal on February 3. — Sherylin Untalan/DVM, GMA Integrated News