500 Ph MSMES to be granted financial, other assistance by Bank of China

francis chua

The Bank of China will hold an micro, small and medium enterprise (MSME) forum on March 21 at the SMX Convention center to gather 1,000 enterprises, 800 of which are Filipinos and 200 Chinese firms for business matching.

From this pool of MSME participants will be chosen 500 Filipino enterprises eligible for financing.

An MSME may apply for participation by submitting the following:  its single proprietorship registration with the Department of Trade and Industry (DTI), a short company profile, and a request for technology, marketing and capital for the purpose of expanding the business operation.

This was revealed by Francis Chua, chairman emeritus of the Philippine Chamber of Commerce and Industry (PCCI), which is cooperating with the bank in organizing the forum.  Other collaborating agencies are the International Chamber of Commerce of the Philippines (ICCP), Department of Trade and Industry and Silkroad International Philippines.

The bank holds a US $3 billion portfolio to be used in the program.

The forum may be followed by a similar gathering in Cebu this September.

The Manila forum will be preceded by a big Chinese business mission headed by the Chinese Trade Minister.

Chua said that more Chinese businessmen are doing business in the country. For one, he said, Chinese agri businessmen already committed to buy “all the fruits of Philippines.”

“Lots of Chinese firms are coming to buy real estate assets,” he added